Monday, May 27, 2013

Bull or Bear Trap ????

Dear All,

>Click the chart to see on full screen<

Nifty surged sharply above 6030 resistance after index heavyweight Reliance Industries announced a significant gas and condensate discovery in the KG D6 block.
So the above chart looks like a Head and Shoulder, if this is right!!! then should make a sharp fall from here, provided the price should break the channel mentioned on chart.

6114-6118 should act as a Resistance. Support 6083,6048 and 6005. Lets See