Equity
The Nifty has strong support at 4,270, from its 100-week moving average. This level of 4,270 was tested twice last week and at present, momentum indicators are negative for Nifty. On the upside, it may faces resistance at 4,450.
If Nifty closes below 4,270, then we feel that it can come down to 3950. Fresh round of rally can be expected once Nifty crosses 4,450. Fresh long may be initiated only if we see Nifty closing above 4,450.
Commodity
Gold looks negative on charts. It has very strong resistance at 14,700. One should avoid going long in gold unless it crosses 14,700. On the downside, it can come down to 14,000.
Currency
The US dollar-rupee has a strong resistance at 47.70. It closed convincingly above this level last week. Dollar is bouncing back from oversold territory. Momentum indicators turned positive on daily as well as on weekly charts. On the upside, it can come up to 48.70 in this week