Wednesday, October 21, 2009

Nifty closes below 5 day lows..

Weekly support comes @ 4985.
Nifty breaks the 5 day lows and closes below that too..Daily Channel support @ 5030.. A faster retracement to 4935 will change the trend to "Down".
Daily closes below all emas..Short term reversal. A Friday close below 5096 will weaken the weekly momentum. Any positive cues may result in an attempt to 5095-5110+..


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3 comments:

Hemanta said...

Strong support = 20 ema@ 5020 now, daily close below 20 ema will be critical.

October 21, 2009 at 6:24 PM
Unknown said...

Hello Ilango

I had covered my shorts arnd 5090 and re-entered around 5065 at closing.

Whats should be the strategy and comments?

Any update on Bharti. I am stuck in that one :-(

Thanks for timely help :-)

October 21, 2009 at 7:07 PM
GANESH PL said...

Hi Illango,

When you have time Please send me the excel files nifty tenchnique to my mail id gangaiganesh@gmail.com
Thanks.

Regards,
Ganesh

October 22, 2009 at 8:50 AM

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