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Sunday, August 03, 2008

(1) Nifty Chart For Next Week 04/08 to 08/08/2008 ::

Nifty: We have plotted wave count of mid term trend. Technically it seems corrective flat of last leg C is starting to move up. (If you remember we have already give that in our earlier post at bottom). Watch this up move carefully, break out above 4445/4540, once it breaks this resistance then next strong resistance zone is above 4600 to 4800. Support 4390/4324/4288/4258. Up to 4540 be careful. Strong resistance is at 4445/4501/4540. As per strong up move on 1st Aug. Our strategy for 4th Aug. should be to buy on dips (S.L 4390) & sell at high (S.L 4540). In one level above 4390 momentum seems up, and below 4390 momentum down.

Posted by MY CHART at 8/03/2008 09:43:00 PM

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