Monday, December 22, 2008

Nifty stalls at 3100 again and corrects..

Nifty attempted a breakout but weakened due to the long pending negative divergences in the hourly time frame as well as some long unwinding.A trade below 3020 will lead to a channel breakdown leading to more corrections. However, 5 minute being highly oversold, a bounce off the lows will materialise. A broader trading range of 2910 to 3110 may be in place.
 Daily trend is still in upmode as of today....Watch those trendline and resistances & supports and trade accordingly.





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1 comment:

maghil-happy in tamil said...

you hav posted by 4.20 pm now 1ly i am reading (clock-time)i am seeing you as market moniter

Great work do it upon........................................................................................................................................................................................

December 22, 2008 at 10:38 PM

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