(1) Nifty Chart For 28/08/2009 ::

Nifty :: As we say in yesterday post US market turns up for last 5th leg in intraday chart.. Once again Nifty last candle made an High wave bullish candle pattern.. Volume support this up move but all other indicator didn’t give any support for this up move.. We constantly plot ending diagonal and bearish Wolfe wave pattern.. Be careful at higher level, avoid buy at high.. Watch two strong resistance for 28th Aug near 4750/4754 once Nifty break last pivotal high 4731.. Still momentum is up that’s why our strategy same as yesterday buy only in deep (S.L 4611) Sell at high (S.L 4800).. Resistance for up move at 4718/4750/4754/4784/4800.. Supports at 4645/4636/4631/4611..
( One bullish pattern Inverted H&S in Nifty chart and volume support this pattern so be careful in shorting, most probably we see healthy correction in coming days but wait for bearish conformation then short till then enjoy ride )