NIFTY LVLS TO WATCH IF BELOW 4924

For nifty 4924 is an important support,,below which 4870-4810 zone is crucial.

A note on 5330 tgt::: we have recently seen two big moves on either side..both were a little bit more severe than my expectations.so there are two clear possibilities,,

1. we may have a lower top in place at 5085

2. we may have to see a higher bottom ,for the rally from 4536--5085.

so a higher target is possible, only above 5100 approx.coz. that will confirm a higher bottom.else we may even break 4536 or ,we could be in a small triangle formation,with its two legs already over.

a threat to the higher targets, exists in the probable HEAD & SHOULDER pattern,in sbi as being shown in the chart, here.