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Friday, October 16, 2009

(1) Nifty Chart For 16/10/2009 ::


Nifty :: Once again Nifty made a Spinning Top Doji candle pattern but this time with High Wave bullish candle.. As far as stay above 5100/5077 nothing to worry for bulls.. Nifty heading towards short term turning date with all various type of Elliott wave target in between 5100 to 5195, be careful at higher level and use strictly stop loss in buying.. As we say up to 5100 nothing to worry for bulls and that’s why our strategy for 16th Oct up to 5100 buy in deep (S.L 5054) sell at high (S.L 5220)..Resistance for up move at 5128/5160/5177/ 5195/5220.. Supports at 5100/5077/5054/5044/5018..
Exit from all long intraday position if Nifty break 5054...Our mid term buying S.L now revise as 4965 as closing basis…

Posted by MY CHART at 10/16/2009 02:27:00 AM

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