newsletter

(NOORESH)

MY CHART

Nifty :: Once again an insider day with negative bias .. Still bearish Wolfe Wave alive.. Be careful at higher level.. We discuss one more bullish possibility. May be Nifty treading in running triangle and breakout level of running triangle with closing basis 4710,breakdown level of running triangle with closing basis 4550.. Any side breakout or break down gives minimum swing of 200 points. All daily and weekly indicator support bearish Wolfe Wave.. Still our strategy up to 4788 (61% of entire fall) Sell at high buy on deep.. Resistance for up move at 4670/4690/4711/4724/4788.. Supports at 4620/4586/4550/4500/4448..

(Inder Bhatia)

The Indian market opened on flat zone and saw selling pressure at higher level close with red zones . For coming session if nifty trade below 4583 levels it can test 4530-4510 zone . On the up side 4690-4730 zone will act as resistances . Stock specific action can seen .

Axit D ShahHello Friends,


Nifty EOD Chart 11 June 2009

Nifty Resistance 4675 - 4690 ( Current Rally High )

If Crosses & Closes above this then 4747 / 4820 soon.

If Not then can test 4580 - 4545 - 4488
Yesterday market open huge uptrend and again market heavy volatile and downside it will come nifty 4590 level. Then again market will bounce back Nifty upto 4675 level. Andalso closing market nifty will 4630 level. Today nifty good support level for 4620 level. Andalso Nifty will go further uptrend continued today they will again cross this levels 4640,4660,4670,4690 and 4720 levels. Then Nifty will break 4720 the market bullish upto 4920 levels. Suppose if nifty will come downside Nifty 4520 levels is good and strong support levels it will come inthis level only.


Nifty Spot


R-4635/4684/4730.

S-4589/4541/4495.


Nifty Fut


R-4640/4689/4729.

S-4600/4551/4511.


Sensex


R-15407/15573/15736.

S-15244/15078/14915.


Yesterday our sell call not active. But buy call first target only achived. Today nifty buy above 4640 SL 4600 tgt 4660,4670,4690 and 4720 levels. Nifty Sell below 4600 SL 4640 tgt 4590,4580,4560,4540 and 4520 levels.
(*M J Akhtar*)

The RSI(5) and DPO(4) are both in Class A Negative Divergences. This indicates a probable correction. RSI(5) has been unable to cross the 20 sma. All in all it's highly unlikely, that Nifty would remain rangebound on Friday. The Stop Loss for Positional Longs is 4550.

(Ilango)

Consolidating US mkts are expected to make new highs. Holding the highs will influence other mkts and Nifty may also head higher towards 4700+.
On the other hand, if there is a sell off in US mkts after the highs are made and if Nifty breaches 4585/4615, it may trigger a fall.