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Wednesday, July 16, 2008

(1) Nity Chart For 16/07/2008 ::


Nifty :: Break down below channel support 3955 Nifty move down sharply and close above last bottom 4848.. (Sensex already made lower bottom).. As per technical set up there is no sign of free fall but due to all world indices Nifty and Sensex both correct sharply.. We plot here second downward channel as blue color..Now for upswing 3953 and 3965 works as strong resistance and required higher top higher bottom formation.. Any sharp fall give us buying opportunity for short term, that’s why we advice avoid shorting at lower level..Watch carefully last low 3848 below it momentum down above 3848 momentum up.. Our strategy for 16th Jul Buy on dip (S.L 3760) Sell at high (S.L 3965).. Resistance for up move at 3953/3965/4000/4040/4130.. Supports 3848/3841/3793/3774/3760

Posted by MY CHART at 7/16/2008 01:52:00 AM

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