Thursday, February 21, 2013

5970 Resisted

Dear All,

> NIFTY - DAILY CHART <

>click the chart to see on full screen<


5970 Resisted today and an attempt to enter the Channel also failed. As already intimated MA's cross over as a Golden Cross and every rise is a sell. But the selling came a bit earlier rather than expected as US Federal Reserve could prematurely wind down its bond buying programme.

> NIFTY - HOURLY CHART <

>click the chart to see on full screen<


5857 support broken today is a real threat for Bulls. Though a Irregular ABC may be in formation as MACD shows a +ve divergence. As a Benefit of doubt no short trade for my clients and have exited Long CTC. Should wait for a clear Picture.

Lets See!!! Cheers!!!