Wednesday, April 03, 2013

Resisted at 5744

Dear All,

>Click the chart to see on full screen<

Nifty Resisted at 5744, todays spot high was at 5744.85 which is 38.2% retrace for previous fall. Nifty cracked 5720 in last 15 mins of trade and touched 5650. Tomorrow Support at 5660-62 and 5637-40 are the last hope for bulls.

If breaks 5605, previous low, then our present count gets negated and nifty should fall again. Lets See.


>Click the chart to see on full screen<

Tata Motor looks like a Falling Wedge and Pipe Bottom on the end of Wedge signals a Possible Reversal. Break above the Wedge may trigger a Big Buy Off. Lets See how this works for a Bottom Fishing. Cheers!!!