NIFTY WEEKLY VIEW

HI FRIENDS , AS TOLD HERE : - CLICK NIFTY GONE WELL BELOW 20 EMA AND GONE NEARER TO 50 EMA AND TAKEN SUPPORT FOR BOUNCE BACK FOR ABOVE  20 EMA CLOSING IN WEEKEND . AS SAID RESISTANCE IS 5356 NOT TOUCHED EITHER ON MONDAY OR ON TUESDAY AFTER MAKING A HIGHS OF 5242.35 & 5330.55 RESPECTIVELY 

RIGHT NOW 20EMA @ 5265.5 & 50 EMA @ 5198.28 , IF BREAKS 50 EMA , THEN THE TARGET IS 100 EMA @ 5098.04,IF IT ALSO BREAKS THEN NEXT TARGET NEARER TO 200 EMA  @ 4821.04

ATTACHING CANDLE STUDY WITH GANN FAN HAVE A LOOK FOR SUPPORTS IN ANY PANIC KIND OF SELLINGS IN THIS MAY MONTH 

 RSI @ 52.53 HAVE A LOOK FOR ALL INDICATORS SHOWING BEARISHNESS

LAST SUPPORT @ 5231 FOR MONDAY AS PER PIVOTS  HAVE A LOOK : - 

WEEKLY SUPPORTS ARE @ 5201 - 5131 - 5106 AS PER PIVOTS 

AS PER TIME ANALYSIS , NEXT REVERSAL WE CAN EXPECT ON TUESDAY 4TH MAY  2010 REVERSAL  IF IT IS DOWN THEN IT CAN RECOVER LATER ON TUESDAY 

NEXT IS ON THURSDAY 6TH MAY 2010 IT CAN BE DECIDE WITH PREVIOUS TREND ON THAT DAY EITHER A HIGH OR LOW ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND