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Friday, August 20, 2010

(1) Nifty Chart For 20/08/2010 ::


Nifty :: Bullish major breakout with volume.. Touch exact upper rising channel strong resistance. Even after breakout, NSI made negative divergence.. Vix almost bottom out.. Historical Volatility near extreme low. Major indicator still in bearish negative divergence.. One more interesting observation our Fno mechanical buy-sell levels generate 118 sell signal out of 207 script at new high.. Each and every thing against current up move.. Nifty must be correct any time from high.. Be careful at higher level and avoid buy at high.. For 20th Aug watch one level 5539 above 5539 momentum seems up, below 5539 down.. Our strategy for 20th Aug as far as Nifty stay below 5550 sell at high (S.L 5550) buy in deep (S.L 5476/5459).. Resistance for up move at 5046/5550/5573/5607.. Supports at 5504/5492/5476/5459/5434..

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