NIFTY WEEKLY VIEW

HI FRIENDS , AS TOLD HERE 4.7.10 POST NIFTY EXACTLY TAKEN SUPPORT @ 20 EMA ON EVERY DAY PANIC MONDAY LOW IS 5228.35 , TUESDAY LOW IS 5239.15 , WEDNESDAY LOW IS 5233.45  WHERE AS 20 EMA I TOLD IN ABOVE POST IS @ 5227.28 ; MY PANIC BUTTON FOR SHORTERS @ 5260 ON CLOSING BASIS IN WARNING NOTE IN THIS WEEKLY POST 4.7.10 POST AND CROSSED ON TUESDAY TRADING WELL AND CLOSED WELL ABOVE THAT LEVEL TO FOOL ALL SHORTERS AS SAID BY MAKING A HIGH OF 5297.45 AND YOU CAN SEE THE RESULT ON FRIDAY BY MAKING A NEW HIGH OF 5359.05 FOR THE WEEK , A RISE OF ALMOST OF 100 POINTS FROM PANIC BUTTON FOR SHORTERS , HOPE ALL SHORTERS SAVED BY READING THIS WEEKLY POST . NOW 20 EMA MOVED TO 5250.21 WHERE AS 50 EMA MOVED TO 5193.99 AS ON 9TH JULY 2010 , CLICK THE CHART TO KNOW ABOUT PRESENT EMA : -

RSI @ 59.41 { STILL TO REACH ABOVE 70 TO COME IN OVER BOUGHT REGION }, STOC CONSOLIDATED IN THIS WEEK AND SIGNAL SHOWING UPWARDS AND SAME IN MACD, TRIX TOO , CLICK CHART TO KNOW : -

PIVOT IS @ 5347.85  FOR MONDAY TRADING RESISTANCE ARE 5364 - 5375 - 5391

WHERE AS SUPPORTS @ 5336 - 5320 - 5309 , ANY CLOSE BELOW LAST SUPPORT OF 5309 CAN BE SOME SELLING , HAVE A LOOK INTO THE CHART : - 

WEEKLY SUPPORTS ARE @ 5267 - 5181 - 5137  WHERE AS RESISTANCES ARE @ 5398 - 5444 - 5529  AS PER PIVOTS , HAVE A LOOK INTO THE CHART : - 

WARNING NOTE : - 5279 IS STOP LOSS FOR LONGS TAKEN AFTER CROSSING 5260 AS TOLD IN LAST WEEK POST AND FOLLOW STRICTLY STOP LOSS FOR LONGS AND TRIAL THE STOP LOSS ACCORDINGLY , ANY CUT BELOW THAT LEVEL ON ANY INTRA DAY CAN BE ANOTHER ROUND OF SELLING, UPTO THAT YOU CAN CARRY LONG POSITIONS , NO PROBLEM

 

AS PER TIME ANALYSIS ,  REVERSAL WE CAN EXPECT ON MONDAY 12TH JULY 2010 ; REVERSAL IF OPENS WITH A GAP UP WILL CREATE  NEW HIGH AND COME DOWN TO DAY  LOW  ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND