NIFTY WEEKLY VIEW

HI FRIENDS, AS TOLD HERE :- 25.7.10 POST NIFTY CROSSED 1ST RESISTANCE { 5463 } ON MONDAY BY MAKING A HIGH OF 5466.25 ,BUT COULD NOT SUSTAIN TO CLOSE ABOVE 1ST RESISTANCE AND CAME BACK TO AGAIN FOR A CLOSING OF 5414.15 { WHICH IS A 2ND SUPPORT FOR MONDAY }  AND NOT EVEN CROSSED 1ST WEEKLY RESISTANCE WHICH IS @ 5490 ON ANY DAY IN THIS WEEK AND REAL PANIC STARTED FROM THURSDAY AFTER BREAKING THE 5383.1 WHICH IS A PANIC BUTTON TOLD IN ABOVE POST AND PANIC CONTINUED ON FRIDAY TOO AND CLOSED BELOW 20 EMA WHICH IS @ 5366.28 AS ON 30.7.10 , NOW BELOW 3 DAYS CLOSE OF 20 EMA WILL CREATE PANIC SELLING . 50 EMA @ 5286.32 , 100 EMA @ 5208.29 & 200 EMA @ 5014.27 AS ON 30.7.10,TO KNOW PRESENT EMA'S CLICK CHART BELOW :-

RSI @ 52.35 AND STOC SIGNAL LINE CUT ON 27.7.10 { TUESDAY} ALSO GONE TO ABOVE 80 WHICH IS 83.09 OVER BOUGHT REGION ; MACD CUTS THE SIGNAL LINE BUT STILL TO CUT ZERO LINE , WHICH WILL DECIDE AFTER 20 EMA CUT FOR 3 DAYS AND NEARER TO 50 EMA SUPPORT ; TRIX READY TO CUT 0 SIGNAL WHICH IS ALSO CAN DECIDE AFTER REACHING 50 EMA , TO KNOW ALL INDICATORS POSITION, CLICK CHART TO BELOW :- 

PIVOT IS @ 5374.52  FOR MONDAY TRADING RESISTANCE ARE 5394 - 5428 - 5448 WHERE AS SUPPORTS @ 5339 - 5420 - 5285 , ANY CLOSE ABOVE 1ST RESISTANCE  OF 5394 {NEARER TO PANIC BUTTON 5396.87 FOR SHORTS  }CAN BE SOME HUGE SHORT COVERING , HAVE A LOOK INTO THE CHART : -

 CLOSE {5359.9 } BELOW 1ST SUPPORT OF LAST WEEK WEEKLY PIVOTS WHICH IS @ 5376, NOW THIS WEEK WEEKLY PIVOT IS @ 5393.58 AND SUPPORTS ARE @ 5320 - 5281 - 5209 WHERE AS RESISTANCE ARE @ 5432 - 5505 - 5544 , HAVE A LOOK INTO CHART :- 

WARNING NOTE :- PANIC BUTTON ALREADY HITTED ON THURSDAY INTRADAY & FRIDAY BY CLOSING BELOW THE LEVEL 5383.1, NOW PRESENT PANIC BUTTON FOR SHORTERS IS @ 5396.87 WHICH IS A SL FOR SHORTS FOR POSITIONAL ALSO ,NOT CROSSING THAT LEVEL { REVERSE LONG LEVEL } IS OVER ALL WEAK FOR MARKETS IN POSITIONAL ALSO ,UPTO THAT YOU CAN CARRY YOUR SHORT POSITIONS, NO PROBLEM

AS PER TIME ANALYSIS ,  REVERSAL WE CAN EXPECT ON MONDAY 2ND AUGUST 2010 & NEXT ON WEDNESDAY 4TH AUGUST 2010 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND