NIFTY 08.07.10

"TOLD YOU SO": NIFTY  IS STILL IN THE RANGE OF 100 POINTS  BETWEEN 5200 TO 5300 
  
NIFTY TODAY MADE A HIGH OF 5320 WHICH WAS THE UPPER LEVEL MENTIONED IN MY PREVIOUS POST 

NIFTY DID BREAK THE UPPER TRENDLINE AT 5307  AND MADE HIGH OF 5320 BUT WAS NOT ABLE TO SUSTAIN  THESE LEVELS AND CLOSED AT 5296 WHICH IS AGAIN INSIDE THE CHANNEL


"DMA" : FOR LAST 3 CONSECUTIVE DAYS  INCLUDING  TODAY NIFTY HAS TAKEN SUPPORT AT 20 EMA  WHICH IS ACTING AS GOOD SUPPORT

NIFTY 02.07.10

NIFTY DAILY CHART :


CHANNEL:  NIFTY IS MOVING IN DOWNWARD SLOPING CHANNEL WITHIN  TIGHT RANGE OF 100 POINTS  


THE DOWNSIDE SUPPORT FOR THIS CHANNEL IS 5210 - 5200
THE RESISTANCE IS AT 5300  - 5320


DMA :NIFTY  HAS  SUPPORT AT 20 DMA  AT 5215 WHICH IS AT THE LOWER TRENDLINE