Tuesday, October 20, 2009

5190 DONE .......NOW WHAT ???







Today nifty made a high of 5182..i would consider 5190 tgt given here in july-09 done.this level was a target as an important resistance level.on the muhurrat day, nifty high was 5175..todays high was 5182,we have seen some intraday burst of selling at our levels,,with auto-it already off their highs and not recovering too soon...and reliance showing weakness today,suggests that we may have hit a short term top..confirmation nedded..a technical confirmation comes in many ways ,for some it can be only a lower top-lower bottom, for others it can be some ma crossovers..for me 5046 oct nifty future is the level to watch,a more valid one will be a breach of 4910, but i think that could be a quite late confirmation for day traders.rsi/roc/bbands in nifty/reliance JUST have started to show something.lets share.a faster move below 5046 will work for bears, but such a move above 5152 oct f nifty can VERY EASILY NEGATE all short term bearish probabilities.

2 comments:

Anonymous said...

Now What....?
Now down trend upto 4th Nov
Astrologically.

Anonymous said...

Ithink my above comment was correct
Now we may have sideways to uptrend from
5th Nov to 13th Nov.
my "Astrological views"
For you Naikji.

Do you read my views ?
or do you just leave it ?

I have been posting my Astro views on your blog since July 09.
If you have objection I may stop it.