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Thursday, January 31, 2008

(1) Nifty Chart For 31/01/2008 ::


Nifty :: As we say in yesterday post last Nifty strong support 5142.. And Nifty hold this support and made the Engulfing bear candle.. If the engulfing bearish pattern occurred during a down trend, it may be last engulfing bottom which indicates a bullish reversal..

As far as Nifty stay above 5142 nothing to worry.. Momentum turn strong only above 5400 till then our strategy sell at high and buy on deep.. Once again we repeat, please don’t buy at higher level .. Still too many strong resistances at up move. Resistance 5262/5325/5400/5488/5500/5568/5630.. Supports for down side at 5190/5142/5040/4925/4813..

Posted by MY CHART at 1/31/2008 01:51:00 AM

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