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Tuesday, January 20, 2009

(1) Nifty Chart For 20/01/2009 ::


Nifty :: Once again an Spinning top candle pattern occurred near last high.. A Spinning top can be sign that prices are losing momentum and bulls may be in trouble.. For 20th Jan Check support 2815/2800 below it next strong support 2770 .. Close below 2770 give more weakness up to next key support zone 2725 to 2700.. Our strategy for 20th Jan Sell at high (S.L 2870) Buy on deep.. Resistance for up move at 2869/2888/2900/2915.. Supports 2815/2800/2770/2725/2712/2700..

(Still Nifty is in upward mid term channel and that’s why avoid selling near key support zone between 2700 to 2725... If this leg may be 7 (a-b-c-d-e-f-g) corrective legs of 6th (f) may be touch 2600/2630 sooner or letter as per our last weekly post once breaks key support 2700)

Posted by MY CHART at 1/20/2009 08:58:00 AM

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