(1) Nifty Chart For 27/08/2009 ::

Nifty :: Body gap up bullish candle with increasing volume.. As we say in yesterday post momentum is still up, but be careful at higher level due to supply zone and that’s why avoid buy at high... Up to 4580 every dips gives you buying opportunity for short term ONLY.. In Nifty chart we plot two bearish pattern Ending Diagonal and second one is bearish Wolfe Wave.. Most probably we see frailer Inverted H&S pattern even if Nifty given breakout of neckline (4704).. For 27th Aug watch strong support zone 4618 to 4580.. Our strategy for 27th Aug buy in deep (S.L 4580) Sell at high (S.L 4750).. Resistance for up move at 4704/4718/4731/4750.. Supports at 4660/4618/4610/4580..
(US Market update :: S&P 500 large cap index moving up as corrective B leg with ZigZag major a-b-c in intraday chart , major a leg complete with a-b-c and last leg c of major a wave complete with 1-2-3-4-5 leg .. Similarly major c of last leg c running with 1-2-3-4-5 and c of 4th leg may be complete today and now last reaming 5th leg moving up tomorrow)