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Monday, August 17, 2009

(3) Nifty Chart For 17/08/2009 ::


Nifty :: Once again supply zone works as strong resistance for Nifty.. As per our weekly Elliott wave post momentum is up for midterm so every deep give us buying opportunity for last leg movement.. But avoid buying at higher level buy only in deep with strictly stop loss. Watch two strong resistance 4656/4671 and supports zone 4520 to 4480.. Our strategy for 17th Aug if Nifty open flat sell at high (S.L 4671) buy in deep (S.L 4420).. If Nifty open gap down then change strategy as buy in deep (S.L 4480) sell at high (S.L 4671).. Resistance for up move at 4620/4638/4556/4671.. Supports at 4547/4510/4480/ 4420..

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