(1) Nifty Chart For 06/10/2009 ::
Nifty :: A Body gap down Belt hold line bear candle with bearish Evening star pattern after single top formation….As far as stay below 5110 momentum looks weak. As per technical terms corrective up move finish only 70% in larger time frame of last Jan 2008 to Oct 2008 entire fall and that’s why we are still bearish in this expand extreme overbought up move. And now overall bullish chart structure already damage.. Be careful at higher level. On 6th Oct watch strong support 4990/4977/4957/4939 for intraday swing buying.. Our strategy for 6th Oct watch first support 4990 if market hold 4990 buy in deep (S.L 4990) Sell at high (S.L 5110).. Resistance for up move at 5026/5041/5057/5064/5087/5110.. Supports at 4990/4977/4957/4939..
(If Nifty didn’t break 5110 within two day’s then we see sharp decline up to 4810 within six working day’s)
(If Nifty didn’t break 5110 within two day’s then we see sharp decline up to 4810 within six working day’s)
for all other people calls please trade at your own risk