NIFTY WEEKLY VIEW

HI FRIENDS, AS TOLD HERE : - 2.5.10 POST NIFTY REACHED ALL TARGETS BY TOUCHING 200 EMA ON FRIDAY WHICH IS RIGHT NOW @ 4857.64 { 200 EMA @ 4821.04 WHEN I POSTED ON 2ND MAY 2010 WARNING POST AND NIFTY TRADING @ 5270.6 @ THAT TIME  } , I GIVEN FOR 200 EMA TARGET ON 2.5.10 POST ALONG WITH MAY MONTH PANIC SELLING WARNING , THAT IS FOR TOTAL MAY MONTH WARNING, NOT FOR THAT WEEK ONLY 

RIGHT NOW MAJOR RESISTANCE @ 4996.16 WHICH IS 150 EMA , YOU CAN WATCH THAT CROSSING FOR BULLISH SIGNAL AS ALL INDICATORS ARE COMING TO OVER SOLD ZONE , THEY WILL REACH OVER SOLD ZONE AFTER SOME CONSOLIDATION FOR 3 OR 4 TRADING DAYS , WE CAN EXPECT UPTO EXPIRY OF MAY AS MAY MONTH IS A BEARISH MONTH AS I SAID ON 2ND MAY 2010 POST 

CLICK THE TWO CHARTS TO KNOW MORE ABOUT EMA & INDICATORS MOVEMENT :- 

RSI @ 35.42 , STILL IT HAS TO GO BELOW 30 FOR OVER SOLD ZONE, AND IT WILL GO BY TAKING SOME CONSOLIDATION IN BETWEEN 200 EMA & 150 EMA ie.., @ 4857.64 & 4996.14 FOR BULLISH VIEW , I WILL UPDATE IN TWITTER IF ANY MOVEMENT IS THERE FOR BULLISH VIEW IN MIDDLE OF THE WEEK, YOU CAN FOLLOW ME @ rajeshsaladi    IN TWITTER FOR DAILY UPDATES

STILL TREND IS DOWN ONLY , ONLY WE HAVE TO WAIT FOR CORRECT SIGNALS FROM ALL INDICATORS AS PER TECHNICALS . AS TOLD IN 2.5.10 POST  GANN FAN TARGETS NEARLY REACHED , STILL TO TOUCH 4754.84 , WE SHOULD WAIT WHETHER IT WILL TAKE SUPPORTS @ THAT LEVEL OR NOT , HAVE A LOOK 2.5.10 POST AND THIS CHART TOO : - 

PIVOT IS @ 4909.87 FOR MONDAY TRADING RESISTANCE ARE 4966.58 - 5000.17 - 5056.88 

WHERE AS SUPPORTS @ 4876.28 - 4819.57 - 4785.98 , HAVE A LOOK IN THIS CHART :-

WEEKLY SUPPORTS ARE @ 4822 - 4711 - 4570  WHERE AS RESISTANCES ARE @ 5074 - 5215 - 5326  AS PER PIVOTS , HAVE A LOOK INTO THE CHART : - 

WE CAN EXPECT MINOR REVERSAL FOR TOTAL DOWN TREND IN THIS WEEK AS THIS WEEK IS A EXPIRY WEEK . AS PER TIME ANALYSIS ,  REVERSAL WE CAN EXPECT ON MONDAY 24TH MAY  2010 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND

NEXT WE CAN EXPECT ON WEDNESDAY  26TH MAY 2010 ON ACCOUNT OF EXPIRY ALSO