(2) Nifty Chart For 18/10/2010 ::
Nifty :: Incomplete Dark Cloud bearish candle pattern with Weekly Black Shooting Star bearish candle pattern.. Both daily and weekly candle pattern generate sell signal at higher level for midterm conservative trader, with strictly stop loss 6224 or maximum 6284.. Now weekly indicator turn negative from overbought zone.. May be after hard hitting with NSI support, market bounce from current level as far as given close above 6038.. Now for mid term momentum, 6038 works as important level in next week.. Those who long, use titan stop at 6038 as closing basis.. Our strategy for 18th Oct. watch support 6050/6038, If Nifty take support near this two level after open then buy in deep (S.L 6038) sell at high (S.L 6117).. If Nifty move up watch strong resistance 6105/6117, if face resistance near this two level then change strategy as sell at high (S.L 6158) buy in deep (S.L 6038).. Resistance for up move at 6105/6117/6129/6158/6200.. Supports at 6050/6045/6038/6000..