Just Nifty

Thursday, February 21, 2013

Nifty Pre-Market View.

If it is the "irregular Flat correction" from 5879 lows, it may not make highs above 5970; but of it holds 5901, it could.
If it is the correction from 5854, "a" done @ 5971 and the "frustrating b" wave would unfold today.
Accordingly, resistances would be @ 5945-70 and supports @ 5910-20.
Being another "abc" from 5854 to 5971, is it another "Flat", if 5 done @ 5854.
It is definitely one of the challenging phase...
"5942" & "5901" would be crucial numbers.

Wednesday, February 20, 2013

Nifty Pre-Market View.

Nifty has cleared the smaller retrace negation point @ 5947.
Hence, it is heading towards the larger retrace for the 6112-5854 fall @ 5983(50%) & 6013(61.8%).
Previous supports turned resistances would be in the zone of 5979-91.
Monitor the retrace for the last rise from 5883 to 59XX to manage your trades.
Day TA has reversed with advance clues from technical indicators. However, week needs to signal a reversal with a close above 5942 by Friday.
I'll be away for the day.