Wednesday, July 04, 2012

Magic Candles @ 5317 @ 10:14 am

Dear All,

Nifty not giving any direction and boaring too. Today able to close above 5300 and holding above 5265 & 5280. Let Nifty give some direction tomorrow at least. For the time being if Nifty is in ABC - C has almost retraced till 61.8% of Wave A which is at 5317. The magic of this Number is 5317 was the top made Yesterday @ 10:14 am and today also at 10:14 am Exactly. As I see 5317 is 61.8% retrace of Wave A.

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Since today is a Holiday for US market and No further news flow from world market - I think Nifty Can't give any direction. As said Nifty support stands at 5280 / 5265 & 5250. Resistance @ 5317 / 5342 / 5378 & 5442. I hope if Nifty able to close above 5342 then Next too levels are in reachable distance to Nifty. Lets wait for the Weak end closing. Cheers!!!