Tuesday, August 28, 2012

Nifty below 5350.

Dear All,
>>> NIFTY <<<

>Click the Chart to see on full screen<

After breaking the trend line - Nifty moving with Extension waves and Lot of choppy indicates the Indecision and I Hope only the Support and Resistance can guide us. As Nifty has broken the Important support 5350, next level is 5290. Lets See.

>>> BANK NIFTY <<<

>Click the Chart to see on full screen<

Bank Nifty seems like a Symmetrical Triangle Break down - Signals a Bearish and Heavy Sell off is Possible. I advice extreme Caution in Bank stocks - in Days to come. Bank Nifty have a Support at 9890 & 9678 - and I hope these Support may be tested in coming days.


>Click the Chart to see on full screen<

We had a Sell call in Apollo Tyres - as Shown on Chart - a Shooting Star or an Inverted Hammer on the top of the Chart shows that - Stock has been topped out and ready for a Fall. Break down below the Raising Wedge is an another Important Bear Phase of the Stock. Lets get ready to enjoy the Fall.