(1) Nifty Chart & Levels For 02/02/2012 ::
Nifty :: White Lower Shadow bullish candle with high volume.. NSI exactly turn down from top resistance and in down trend, may be bounce possible but it may create negative divergence at high.. All indicator are in extended overbought zone.. As we say always go with trend, but in such kind of extended rally with gap up open, go with trend is not right decision. Risk reward ratio is too high at this level.. No other way if market open gap up with international market support, watch higher last three resistance and if Nifty face resistance at high then ONLY use sell at high strategy for small swing with strictly S.L 5292.. Resistance for up move at 5257/5273/5278/5292.. Supports at 5207/5197/5176/5156..


for all other people calls please trade at your own risk