NIFTY 23.04.10(A)

NIFTY DAILY CHART :

CONVERGENCE: AS SHOWN ABOVE WE HAVE TWO TRENDLINES CONVERGING AT AROUND 5335 -5340

THUS FOR NEXT WEEK WE HAVE 5340 AND 5350 LEVELS TO WATCH ON THE UPSIDE

AND ON DOWNSIDE NIFTY HAS SUPPORT AT 5265 ,5250 AND 5235

NIFTY 22.04.10

NIFTY DAILY CHART:

VOLATILE SESSION: NIFTY HAD GONE UP BY 87 POINTS AT ONE POINT THUS PENETRATING THE LOWER TRENDLINE (GREEN) ,BUT WAS NOT ABLE TO CLOSE ABOVE THE TRENDLINE AND CLOSED AT 5269 (+24)

NIFTY HAS STRONG RESISTANCE AT 5344( PURPLE LINE)

NIFTY 20.04.10(B)

NIFTY DAILY CHART :

INTERESTING TRENDLINE :

NIFTY TOOK SUPPORT AT 5160 WHICH IS THE TREND-LINE CONNECTING FROM JAN2008 HIGH TO JAN 2010 (SMILEY) ON 19TH APRIL 2010

NEXT SUPPORTS ARE AT 5155 , 5125 AND 5090

NEXT RESISTANCE ARE AT 5260 , 5280 AND 5295

NIFTY 20.04.10 (A)

NIFTY DAILY CHART:

MOVING AVERAGES: NIFTY HAD TAKEN SUPPORT AT 40 DAY (SMA) AT 5160 (ARROW)AND RECOVERED FROM THAT POINT AND CLOSED AT 5203 (YESTERDAY)

NIFTY WILL FACE RESISTANCE AT 20DAY SMA WHICH IS 5290

IT WILL ALSO FACE RESISTANCE TO CROSS THE 2ND TREND LINE ( GREEN LINE) IN COMING DAYS