NIFTY 02.06.10

NIFTY DAILY CHART:

RETRACEMENT: NIFTY HAS RETRACED 38.20% OF THE FALL AT 5020

NIFTY 01.06.10

NIFTY DAILY CHART:

RESISTANCE: AS  I HAD MENTIONED IN MY PREVIOUS POST NIFTY WILL FIND IT DIFFICULT  TO CROSS THE TRENDLINE AND THUS IT CAME DOWN HEAVILY (-116 POINTS)


SUPPORT: 4940 ,4910 AND 4870

NIFTY 31.05.10(C)

NIFTY DAILY CHART :

CHART 2:(CLOSE UP OF BELOW CHART)

AMAZING TRENDLINE:   TODAY NIFTY HAS TOUCHED THE TRENDLINE AT 5098 WHICH WAS TODAY'S HIGH AND CLOSED AT 5086 ,THUS IN COMING SESSIONS WE WILL HAVE TO SEE WHETHER NIFTY CAN BREAKTHROUGH THIS TRENDLINE ( WITH GOOD VOLUMES) AND CONTINUE IT'S UPWARD MARCH


OR WILL IT COME DOWN FROM THESE LEVELS ??

NIFTY 31.05.10 (B)

NIFTY DAILY CHART:

"AMAZING" TRENDLINE: THE  ABOVE TRENDLINE STRETCHES FROM 6357 (ALL TIME HIGH) TO 5098 ( 31.05.10) LEVELS

ALONG THE WAY IT HAS TAKEN SUPPORT AT VARIOUS LEVELS( SMILEY)


IN MY NEXT POST  CLOSE UP OF THE ABOVE CHART IS GIVEN TO UNDERSTAND THE IMPORTANCE OF THE ABOVE TRENDLINE

NIFTY 31.05.10( A)

NIFTY DAILY CHART :

100 SMA : NIFTY MADE A HIGH OF 5098 WHERE IT FACED RESISTANCE AT 100DMA( DAY SIMPLE MOVING AVERAGE)