TOP HEAD & SHOULDER REVERSES THE TREND

Today just half an hour before markets opened..i wrote that .....................................................

"unless and untill nifty closes or atleast reaches 4700..the TOP H&S remains a probability...so please keep those 2 trendlines in mind."

AND ALSO..

"After all its a big policy day..SO TODAYS CLOSE HAS LOTS N LOTS OF SIGNIFICANCE...FOR THE SHORT-MED TERM TREND "

And where did the indices reached before starting todays crash ????...yesterday with little bullishness accompained with budget hopes...i posted 1 chart of sensex with targets, as per MY WAY of using fibbonacci ratios for finding targets and resistance zones ( targets are mostly resistances areas)...in our case , as i posted the chart yesterday 15089 and 15107 was one zone,,these 2 levels were arrived using two different moves...but since there is hardly any difference betn these two levels (18 points) it was a good combination of levels to watch...

and sensex made a high of 15096..and bang...came the first warning !!!!!!!!!

here is the chart...updated

and after the initial BURST OF DISAPPOINTMENT on budget,,,my system came handy with sell calls in sensex and nifty.