The weekly chart shows (posted on VFM direct: refer link*) that Nifty has given a sell at 5310.85 and is trading currently (17-Mar-2010 EOD) at 5233 levels. On the charts the pink line shows clearly a resistance and the supports shown by black lines are at 5000-5050 levels below which the target comes to me as near 3900,3500.
So till Nifty doesn't gives a close above 5285-5300 levels, it will move in the range 5000-5250. Close below 5000 is BEARISH.
The weekly chart shows (posted on VFM direct: refer link*) that Nifty has given a sell at 5310.85 and is trading currently (17-Mar-2010 EOD) at 5233 levels. On the charts the pink line shows clearly a resistance and the supports shown by black lines are at 5000-5050 levels below which the target comes to me as near 3900,3500.
ReplyDeleteSo till Nifty doesn't gives a close above 5285-5300 levels, it will move in the range 5000-5250. Close below 5000 is BEARISH.
More views on the graph also invited.
* http://www.vfmdirect.com/forums/show.cgi?topicid=1265738001#1268843533