(2) Nifty Chart For 30/11/2009 ::

Nifty :: Give Engulfing bearish candle pattern conformation with Body Gap Down Hangman candle.. Extreme high volatility generate high volume.. Now for farther up move strength, Nifty must be close above 5080/5203.. Till then buying at lower level suggest Nifty may be formed constricting triangle in coming day’s as A-B-C-D-E.. Down leg D may be running with zigzag and once again came down within one or two days, after completion of D once again Nifty move up for last and final leg E to complete this pattern.. Our strategy for 30th Nov. If Nifty move down and hold support 4914 buy in deep (S.L 4893) sell at high (S.L 5052) .. If Nifty open gap up, change strategy as sell at high in between 4988 to 5052 (S.L 5052) buy in deep (S.L 4914).. Resistance for up move at 4972/4988/ 5014/5052/ 5110.. Supports at 4932/4914/4893..