SENSEX UPDATE

QUICK UPDATE :  SENSEX HAD MADE A HIGH OF 18309 ON 9tH AUGUST  WHICH IS 8 POINTS SHY OF MY LEVELS MENTIONED ON 8th AUGUST 2010 POST


REFRESH : THEORY POST

NIFTY 11.08.10

NIFTY DAILY CHART :

RETRACEMENT: NIFTY  HAS RETRACED 50% OF THE RALLY FROM 5349 TO 5492  AND CLOSED AT 5420


DMA : NIFTY HAS CLOSED AT 5420 WHICH IS EXACTLY AT 20 DAY SMA

SUPPORT  : NIFTY HAS SUPPORT AT  5405 , 5370
          

SENSEX 08.08.10

WEEKEND EDITION

SENSEX QUARTERLY CHART  :

THEORY : 

1)  JAN QTR HIGH 17530

2)  MARCH QTR HIGH 17793 ( HIGH OF JAN QTR + 1.5% = 17793)


3) JUNE QTR HIGH 18047 (HIGH OF MARCH QTR +1.5% = 18059)


4) SEPTEMBER QTR HIGH  18317 ? ( HIGH OF JUNE QTR + 1.5%= 18317)



IF  WE FOLLOW THE ABOVE THEORY  THEN SENSEX HAS STRONG RESISTANCE AT  18317 IN THIS QUARTER

NIFTY 08.08.10

NIFTY DAILY CHART :

"TOLD YOU SO" : NIFTY MADE A HIGH OF 5481 ON  4th  AUGUST  WHICH WAS THE EXACT LEVEL I HAD MENTIONED IN MY POST ON 26rd JULY WHERE NIFTY WOULD FACE RESISTANCE

FLASH BACK LINK  : RESISTANCE AT 5481

ON 5th AUGUST NIFTY MADE A HIGH OF 5487  WHICH IS NEAR TO THE LEVELS MENTIONED ABOVE AND CLOSE TO NEXT RESISTANCE OF 5500 &5520