4950 done !!!!!

ROUNDING TOP IN INDICES

THE PATTERN completes with the break of support line drawn on chart.only than we can have the suggested targets.

and do not forget my supports at 4950-4910...expect a bounce back..( should be weak),,which could be a lower top against 5182..and than we may see the crack below support line, to complete the pattern.

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ROUNDING TOP IN INDICES

nifty and sensex are in the process of making a ROUNDING TOP reversal pattern formation,,,giving initial targets at around 4700 for nifty and 15900 for sensex

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PATIENCE PAYS, TOO !!!!!!!!

Nifty actually moved, in a small range,, had even given a false break out above one mentioned level of 5043....but luckily, i didnot gave any buy call at that break. also the spurt was very short- lived.

also, exactly at the same time, my system was generating sell calls on 5 min charts for reliance.

so ,i just waited n waited...before finally, i found the fall started with huge volumes.

a sell was triggered and 5004 was gone in split seconds.

depending upon, world markets though...but expect a bounce back from 4910-4950, next week.

should that bounce ,remain weak...4860 can be in danger.

but ,i will update , daily for the crucial mooves, in coming days.

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TAKING A TOLL OF PATIENCE

Somehow,,, even after having sell calls on hourly charts.

i have a feeling that nifty may not breach my first supports 5008 that easily....and if the sideways structure remains intact...it MAY not touch 4950..even if 5004 is breached for short term.

there can be a good upmove above 5043.

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NIFTY LEVELS WORKS, YET AGAIN.

For bullishness nifty had to trade above 5078..........yesterdays high was 5072 todays high was 5069, and on the lower side too,,my first target which is naturally a support also,,was 5008,

yesterdays nifty low was 5004 , and today it was 5008.

now what next????.......the hourly structure seems tobe a distribution, with my system generating sell calls on hourly charts.

i think we are headed for 4950-4924-4910, very soon.

but expect a strong bounce back from these levels.

remember, no great bearishness till we close below 4860.