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Sunday, February 01, 2009

(1) Nifty Chart For Coming Week ::


Nifty :: In intraday chart Nifty move with minor Inverted Head & Solder bullish pattern with rising channel and exactly close near 4th top…!!

From last week post we clearly indicate that may be Nifty made Bow Tie Diametric pattern with an expanding triangle .7 leg of 6th with f leg may be finish near 2660 and move up for bullish g last leg. Target of this g leg near c-e line..

Both above pattern made a bullish structure for Nifty. As far as Nifty hold above last low 2660..

Now in short term for 2nd Feb Nifty exactly close near strong resistance and enter in overbought zone required to break 2882 and close above 2900/2960 for further up move.. Till then avoid buying at higher level (in over bought zone).. Watch strong resistance 2900/2960.. If hold below it our strategy for 2nd Feb sell at high (S.L 2961 with closing basis) buy on deep (S.L 2775).. In one level above 2865 momentum seems up, below 2865 momentum down.. Resistance for up move at 2900/2933/2960.. Supports at 2865/2825/2808/2775…

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