(1) Nifty Chart For 20/09/2010 ::

Nifty :: An insider day with high volume .. Black Candle is Engulfed by larger white candle create Tsutsumi line bearish candle pattern.. Again sing of possible top…As per today’s chart both short term indicator in its extreme overbought levels from last week with vertical straight up move.. Historical short term volatility already increase in last week, and Historical long term volatility slightly turn up from its all time low 10.41 to 11.11% .. Still far away from its average.. Vix already move up from last week and near to its breakout level…From last month in message box, we say that. If market move up from here, may be its create bubble, today we say its already in bubble with 24.84 P/E.. No one know where is the end of this bubble.. At current situation not a single indicator say’s buy in breakout as per technical or as per fundamental terms.. Manipulated rally still on, and again we repeat, it’s not right time to buy at higher level.. Wait for some healthy correction then only buy. Till then stay out of market.
For short term intraday trader strategy on 20th Sep. watch first resistance 5902, below 5902
momentum seems weak.. Above 5902 wait till next strong resistance 5914/5931/5954, and sell
at high (strictly S.L 5954) buy in deep (S.L 5815).. Resistance for up move at 5902/5914/5931/5954.. Supports at 5861/6841/5828/5815/5773..