(1) Nifty Chart For 11/05/07
NIFTY CHART
Nifty : Once again An Engulfing Bearish pattern occurred.. And momentum shifting from bulls to bear. On yesterday Nifty chart we say caution at higher level (some dip still left) and it is touch downward channel and turns sharply down. If we break last low 4029 then conform lower top lower bottom in Nifty daily chart and touch defiantly our 4th wave target 3988 and second target 3917.. (In Sensex chart as we say this one 4th wave and for this wave count hold above 13386 must be. If not then we change our wave count) Strong support for down move at 4125/3995/3988/ and final support at channel bottom 3964.. Traded bellow 4068 momentum weak and its works as upward strong resistance. Next resistance for up move at 4072/4109/4137..