Wednesday, October 31, 2012

Just a Relief Rally ?

Dear All,

>> NIFTY <<


>click the chart to see on full screen<


Nifty paused the day today with a relief rally. 5636-41 should be the stiff Resistance as I think it wont get crossed. As I wrote earlier 5550 or 5530 should be the bottom line before next upmove.

>>BANK NIFTY<<

>click the chart to see on full screen<

Bank Nifty even though Broken today 11150 as I wrote yesterday, managed to move up as the channel of expanding triangle gave strength. Support at 11125 and 11250. Resistance 11330, 11390 and 11450 act as a Resistance.

Lets see. Cheers!!!