NIFTY WEEKLY VIEW

HI FRIENDS, AS TOLD HERE : - 11.7.10 POST NIFTY MOVED WELL ABOVE 5391 { 3RD RESISTANCE } ON MONDAY BY MAKING A HIGH OF 5402.7 AND MOVED ABOVE 5444 { WEEKLY 2ND RESISTANCE } ON WEDNESDAY BY MAKING A DUMMY HIGH & OPEN AS 5450.9 . NOW PANIC BUTTON MOVED TO 5344.33 { LOWER BOTTOM } OF LONG INITIATED @ 5260 AS TOLD IN THE 4.7.10 POST . STOP LOSS UPDATING IN TWITTER REGULARLY ON DAILY BASIS, TO GET YOU CAN FOLLOW ME @ http://twitter.com/rajeshsaladi . 20 EMA @ 5304.34 WHERE AS 50 EMA @ 5229.08 AS ON 16.7.10 . CLICK THE CHART TO KNOW ABOUT PRESENT EMA : - 

RSI @ 61.26 , BUT STOC CUT THE SIGNAL LINE FOR DOWN SIDE AND MACD READY TO CUT . SO, PANIC BUTTON WILL TRIGGER ON ANY SELL OFF DAY IN THIS WEEK , BEWARE OF THAT . CLICK CHART TO KNOW : - 

PIVOT IS @ 5390.9  FOR MONDAY TRADING RESISTANCE ARE 5407 - 5417 - 5434 WHERE AS SUPPORTS @ 5380 - 5363 - 5353 , ANY CLOSE BELOW LAST SUPPORT OF 5353 {NEARER TO PANIC BUTTON 5344 }CAN BE SOME SELLING , HAVE A LOOK INTO THE CHART : -

WEEKLY SUPPORTS ARE @ 5352 - 5308 - 5259  WHERE AS RESISTANCES ARE @ 5445 - 5494 - 5539  AS PER PIVOTS , HAVE A LOOK INTO THE CHART : - 

WARNING NOTE : - SL MOVED TO 5344.33  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 { LOWER BOTTOM WILL FORM BELOW 5344 WHICH SHOWS WEAKNESS }

AS PER TIME ANALYSIS ,  REVERSAL WE CAN EXPECT ON THURSDAY 22ND JULY 2010 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND