AS EXPECTED NIFTY GONE WELL ABOVE 5300 ON MONDAY & TUESDAY ALSO AND FAILED TO CLOSE ABOVE THAT LEVEL ,BUT TAKEN SUPPORT @ 20 EMA AND CLOSED ABOVE SHOWING BULLISH TUNING STILL. NIFTY MAY MOVE IN BETWEEN 5150 TO 5300 IN THIS WEEK.
NEITHER SUPPORT NOR RESISTANCE BROKEN IN THIS WEEK SHOWING BULLISHNESS,AS 3RD QRTR RESULTS ARE THERE { ONGC,BHARTI,ICICIBANK,WIPRO IN THIS WEEK} SO, VARIOUS SECTORS TOP COMPANIES RESULTS ARE IN THIS WEEK, THIS RESULTS WILL DECIDE MARKET DIRECTION
20 EMA IS NOW @ 5191.34 ,SO WATCH OUT THAT LEVEL, IF THAT BREAK IN RESPECT RESULTS SEASON , EXIT ALL LONG POSITIONS FOR A TARGET OF 50 EMA 5092.41 AND NEXT 70 EMA @ 5023.85 @ LAST SUPPORT @ 100 EMA @ 4908.51
IF 20 EMA BROKEN IN CLOSING CORRECTION CAN COME HEAVILY ON ACCOUNT OF RESULTS SEASON ALSO, SO, WE HAVE TO WATCH OUT TECHNICALS AND NEWS BASED IN THIS WEEK FOR BULLISH OR BEARISH VIEW
AS PER TIME ANALYSIS WEDNESDAY 13TH JANUARY 2010 GIVEN REVERSAL
MADE A LOW OF 5169.55 AND TAKEN SUPPORT @ 20 EMA { 20 EMA @ 5177.05 } AND REVERSED TO CLOSE ABOVE 5200 @ 5233.95 ( HIGH 5239.2 60 POINTS FROM LOW MADE }
AS TOLD IN 11RD JANUARY 2010 POST
MADE A LOW OF 5169.55 AND TAKEN SUPPORT @ 20 EMA { 20 EMA @ 5177.05 } AND REVERSED TO CLOSE ABOVE 5200 @ 5233.95 ( HIGH 5239.2 60 POINTS FROM LOW MADE }
AS TOLD IN 11RD JANUARY 2010 POST
NEXT REVERSAL WE CAN EXPECT ON TUESDAY REVERSAL { 19.1.10}
EITHER A HIGH OR LOW ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND
EITHER A HIGH OR LOW ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND
SUPPORT, RESISTANCE ALSO WORK FOR THIS WEEK, YOU CAN WATCH DAILY
PIVOT LEVELS IN OTHER CHART ,PATTERN LOOKS LIKE RISING WEDGE,SO, BEWARE ON RESULTS SEASON
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