Nifty on the edge of a precipice

Nifty is on the edge of a deep decline. The support of 4950 has held today and the index better hold on to this level. As the graph shows the support line for this rally has broken and a fall below 4960 will take the index to 4780 and then 4550.

Maruti in reverse gear

Maruti Suzuki India is at a very critical support zone around 1500. Big volume dumping of the stock has taken it below the 50 dma. If the scrip cannot climb back above 1540 then lower levels are sure to be tested. Major support is available at 1360.