NIFTY Performed on Wednesday:
The markets closed in the red for the third consecutive day of the week as heavyweights RIL, SBI and ONGC witnessed selling pressure through the day. The S&P CNX Nifty closed the day down -18.35 points or -18.35 % at 5420.60.
The Nifty futures closed and settled finally at 5424.05, down by -23.35 or -0.43 %.
Positional Trend with Levels
Just watch closing…5459 below…!
Suppose to happen this one….then Targets of Position will be 5366-5321 for traders of short term
Note: This pull is not believable for ending of Bearish Trend but also not confirmation of Bullish fully
Small Risk Opportunity in ADVANCED (Base of Hourly oscillators) : Selling levels 5611-5629 and Short Term Targets will 5536-5476, if trades 5630 above for 10minitues…then Exit from Short Position
(Please, Note that we are long with nifty future as mentioned above paragraph, yet we try to book profit 5584 above)
Keep Patience of Accurate single and our levels
(New update will be below 5440 only)
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Technical Data-Sheet on NIFTY:
Last (18-05-2011) Closed@5420 (-19 points)
Last high@5460 low@5401
Weekly high@5605 low@5401
5-DAY RSI 25 AND 14-DAY RSI 35.
Prediction of MoneyMunch.com Intraday
Refresh your memory…?
On Friday, We sold NIFTY Future 5611-5629…! And Given Targets 5476 to subscribers and yahoo Group me.
Target achieved on Tuesday with Touched 5422
Yes, you can still hold with stoploss 5429 and Read below msg…!
What for Today…?
Support at 5423-5425 zone. Below this zone, Bears will try to dominate up to 5413 level and thereafter slide may continue up to 5386-5388 zone by non-stop.
Hurdles at 5457 & 5482 levels. Bears will not allow Bulls to cross these levels. If Bulls can able to absorb selling then expect short covering up to 5519-5521 zone and thereafter expect a jump up to 5544-5546 zone by non-stop.
On Negative Side, break below 5373-5375 zone can create panic up to 5336-5338 zone by non-stop. If breaks & sustains this zone then Bears will try to ride and have caution.