Monday, May 16, 2011

Nifty Flag Pattern formation.........

THERE IS FLAG PATTERN FORMATION ON CHART
THE HEIGHT IS OF 162 POINTS
BREAKOUT LEVELS
ON DOWNSIDE 5480 - TGT 5330-5310
ON UPSIDE 5615 - TGT 5765-5785
NEED TO CLOSE BELOW OR ABOVE
AND SUSTAIN THE LEVEL NEXT DAY FOR CONFIRMATION
AS PER ASTRO ANY RISE ON MONDAY OR TUESDAY SHOULD BE USED FOR SELLING
ON WENESDAY & THURSDAY MARKET WILL REMAIN UNDER SELLING PRESSURE
AND ON FRIDAY WILL ATTRACT BIG SELL-OFF.
NOTE :- OUR VIEWS REMAIN THE SAME TILL NIFTY SPOT REMAINS BELOW 5570 ON CLOSING BASIS
THE TREND IS BEARISH AND WE KEEP OUR TGT 3 & 4 INTACT I.E. 5370 & 5245
ONLY ON CLOSE ABOVE 5570 TREND WILL BECOME BULLISH
AND FOR BOOSTING UP NIFTY SPOT NEED BREAK AND CLOSE ABOVE 5640

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