NIFTY WEEKLY VIEW

HI FRIENDS , AS TOLD HERE 18.7.10 POST NIFTY MOVED ABOVE 1ST RESISTANCE ON MONDAY BY MAKING A HIGH OF 5409.1 AND PANIC HAPPENED ON TUESDAY FOR WARNING BY INDICATOR IN LAST WEEK POST AND HITTED 5355 SL  { UPDATED SL } , BUT NOT REAL SL OF 5344 WHICH I TOLD AS LOWER BOTTOM AND BOUNCED BACK ABOVE BY CROSSING 1ST RESISTANCE OF WEEKLY PIVOT WHICH IS @ 5445 BY MAKING A HIGH OF 5447.15 ON 22.7.10 WHICH SHOWS STRENGTH IN MARKET AND MOVED WELL ABOVE ON 23.7.10 ALSO, NOW WHAT ARE THE PRESENT EMA'S , CLICK CHART TO KNOW :-

RSI STILL @ 63.34 , NOT CROSSED 70 FOR OVER BOUGHT SIGNAL AND STOC CUT THE SIGNAL LAST WEEK AND PANIC HAPPENED ON TUESDAY BCOZ OF THAT AND BOUNCED BACK AGAIN IN SIGNAL LINE , YOU CAN SEE THAT IN INDICATORS CHART , CLICK THE CHART TO KNOW : - 

PIVOT IS @ 5449.22  FOR MONDAY TRADING RESISTANCE ARE 5463 - 5482 - 5496 WHERE AS SUPPORTS @ 5430 - 5415 - 5396 , ANY CLOSE BELOW LAST SUPPORT OF 5383 {NEARER TO PANIC BUTTON 5383 }CAN BE SOME SELLING , HAVE A LOOK INTO THE CHART : -

CLOSED 5444.1 JUST NEARER TO 1ST RESISTANCE OF LAST WEEK WEEKLY PIVOT WHICH IS @ 5445.95 , NOW THIS WEEK WEEKLY SUPPORTS ARE @ 5376 - 5308 - 5262  WHERE AS RESISTANCES ARE @ 5490 - 5536 - 5604  AS PER PIVOTS , HAVE A LOOK

INTO THE CHART : - 

WARNING NOTE : - SL MOVED TO 5383.1  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 WEDNESDAY 28TH JULY 2010 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND