Wednesday, January 14, 2009


Nifty kept holding the 2710 level as i said earlier nifty has taken support at 2720 level.Tommorrow we can expect a bounce in nifty(to be positive).If it sustains above 2756 level than nifty can go upto 2790-2800 level and above 2800 if it sustains for 30 min expect nifty to go upto 2830-2850 level.
Chances are that nifty can be positive tommorrow.




In big picture nifty turned down after testing the downward sloping channel(yellow line) (3133).Now another downward sloping channel(orange line) which is placed at 2702 level will act as support and if that has been broken nifty will fall even faster and testing of previous low will be seen in short term.so any rise exit long and initate new short for target of 2250-2300

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