Thursday, December 3, 2009
nifty expanding triangle
nifty dec f is at a good resitance level,,not only its around at prev highs ,,but now its facing resistance at the trendline of an EXPANDING TRIANGLE..that i had posted a few days back.
watch ,for strong weakness from tomorrow.
Wednesday, December 2, 2009
WATCH 5040 FOR NIFTY
A strong move below 5103,,will take nifty upto 5089-5079 and a move below these levels will take nifty upto an important support levels of 5041..and a close below 5040 and we may see a strong down move atleast upto 4937-4860.
a real directional move will depend upon how,severe crash comes in ,weaker stocks like,
icici,sbi,bhel,larsen,rel infra and reliance capital.
watch for these stocks, and nifty levels,,tobe guided in near future.
Tuesday, December 1, 2009
5000 for nifty ...crucial
Bearish moves,which seem to have all characters of panic sell-offs,suddenly gets disappeared, at our supports. a character of bull markets. but markets clearly unable to hold even higher levels,without participation of banking and reality sectors.
A strong move above 5075 can some how drag nifty around 5150 again,,,but on the other hand bears will be taking control under 5000,,,4990 for dec f nifty.
and ESPECIALLY if nifty closes below these levels, we may see another leg of down move.
DONT forget 4860 on closing basis, coz. if now onwards, a close below 4860, will put 4536 under threat.
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