SRK TRADING CALLS: NIFTY WEEKLY VIEW & SENSEX CHARTS

HI FRIENDS AS TOLD HERE :- 10.10.10 POST NIFTY MOVED NEARER TO 1ST WEEKLY RESISTANCE { 6195 } BY MAKING A HIGH OF 6187.75 AND REVERSAL HAPPENED AS TOLD , AND ON TUESDAY MOVED BELOW PANIC BUTTON IN INTRA (LOW 6067 )BUT MANAGED TO CLOSE ABOVE PANIC BUTTON ( 6074 ) CLOSED @ 6090.9 AND MOVED WELL ABOVE 1ST RESISTANCE { 6195 } AND CLOSED STRONGLY ABOVE 1ST RESISTANCE SHOWS BULLISHNESS AND ON THURSDAY MOVED MORE HIGH BUT COULD NOT CROSS THE 2ND WEEKLY RESISTANCE {6287} ( HIGH IS 6284.1 ) AND REVERSAL HAPPENED ON FRIDAY AS TOLD , THIS BREAK OUT LOOKS LIKE FALSE BREAK OUT WITH LOT OF VOLATALITY IN TWO DAYS AND STOP LOSS GIVEN IN TWITTER AS :- As many are asking giving u the stop loss for positional longs 6116 in spot nifty ; will update in detail in weekly post Friday, October 15, 2010 7:51:54 AM via Mobile Web

AND ITS BEEN BROKEN IN FRIDAY PANIC SELLING SO, NOW MAIN SUPPORT IS 20 EMA WHICH IS @ 6045.27 WHICH IS VERY CLOSE FROM CURRENT LEVEL , ANY BREAKING OF THIS LEVEL IN CLOSING WILL DRAG MARKET INTO CORRECTION MODE UPTO 50 EMA WHICH IS @ 5827.5 TO KNOW MORE ABOUT ALL EMA { 100 @ 5612.59 ; 200 EMA @ 5337.95 } , CLICK BELOW CHART :-

RSI @ 56.34 & STOC @ 65.59 CORRECTION HAPPENED AS TOLD IN LAST WEEK , CLICK CHART TO KNOW :-

PIVOT IS 6104.53 FOR MONDAY TRADING RESISTANCE ARE 6158 - 6254 - 6308 WHERE AS SUPPORTS @ 6008 - 5954 - 5858 , HAVE A LOOK INTO CHART TO KNOW : -

WEEKLY PIVOT 6132.37 RESISTANCE ARE @ 6214 - 6366 - 6448 WHERE AS SUPPORTS @ 5980- 5898 - 5746 , HAVE A LOOK INTO CHART :-

WARNING NOTE :- PANIC BUTTON { REVERSE LONG LEVEL } @ 6115 FOR THIS WEEK IS A STOP LOSS FOR POSITIONAL SHORTS AS SHORTS GENERATED ON FRIDAY AS PER MY TWITTER ALERT FOR POSITIONAL ,BEWARE IF CLOSE ABOVE 6115 ON ANY DAY IN THIS WEEK, UPTO THAT NO WORRY ABOUT SHORTS FOR POSITIONAL FOR MORE FALL, ANY DAY CLOSE ABOVE 6115 AND BREAKS SHORT COVERING WILL HAPPEN AND LONGS FOR POSITIONAL WILL EXECUTE :-

AS PER TIME ANALYSIS , REVERSAL WE CAN EXPECT ON MONDAY 18TH OCTOBER 2010 REVERSAL EITHER A HIGH OR LOW WHICH EVER COMES FIRST ON THIS DAY AND THEN CAN REVERSE THE EARLIER TREND,NEXT ON WEDNESDAY 20TH OCTOBER 2010 FOR TREND REVERSAL

SENSEX WITH EMA :-