Sunday, September 12, 2010

NIFTY 12.09.10



WEEKEND EDITION


NIFTY WEEKLY CHART 

RESISTANCE:  "5677" IS AN IMPORTANT LEVEL FOR NIFTY  WHERE IT WILL  FACE RESISTANCE  

THE ABOVE HORIZONTAL LINE IS A  CLASSIC EXAMPLE OF SUPPORT BECOMING RESISTANCE WHEN  INDEX STARTS TO MOVE UP

NIFTY 12.09.10





WEEKEND EDITION


NIFTY DAILY CHART :


FIBO LEVELS:  IF WE TAKE THE RECENT FALL IN THE NIFTY FROM 5550 TO 5348 AND CALCULATE THE  FIBO LEVELS  , WE ARRIVE AT VERY IMPORTANT LEVELS WHERE NIFTY WILL FACE RESISTANCE


AT 161.8% RETRACEMENT OF THE ABOVE MENTIONED LEVELS COMES AT 5675 WHICH WILL ACT AS STRONG RESISTANCE