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Thursday, May 12, 2011

(1) Nifty Chart & Levels For 12/05/2011 ::


Nifty :: White Lower Shadow bullish candle, an insider bar and again with low volume.. NSI turn up from support buy zone, Bull-Bear Power indicator in buy zone.. Each and everything favor in bulls, but in corrective rally. Mean avoid blindly buy at higher level without conformation.. Watch breakout above 5593 and breakdown below 5514 for major swing.. In between even after breakout watch strong resistance near 5625, and in breakdown watch strong support near 5500 .. Till then in intraday treading watch one level 5556, above 5556 momentum seems up, below 5556 momentum turn down.. Trade accordingly above or below 5556 for small swing only with next level stop loss.. Resistance for up move at 5574/5593/5606/5625.. Supports at 5535/5518/5502/5472..

Posted by MY CHART at 5/12/2011 01:51:00 AM

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