Monday, November 18, 2013

Resistance 6221

Dear All,

>>> Nifty - As Updated on 13th Nov, 2013 <<<

>>> Click the chart to see on full screen <<<

Wrote on 13th Nov about the possible bounce back as shown on chart. Now everyone know what happened and nifty almost bounced till 6195. Lets see whats next ?

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<

I guess the upmove as wave 2 and should resist near 6221. If unable cross the resistance may confirm the end of relief rally and a good or big fall should start for wave 3. So caution advice for all long positions.

>>> ICICI BANK <<<

>>> Click the chart to see on full screen <<<

Yes we are short in ICICI Bank. Resistance 1085, if unable to cross may trigger a big or good sell off. If the support channel gets broken, expect a big fall. CAUTION advised for those who long in this counter.