Nifty coming out of a Converging triangle

By | August 8, 2008

A can be seen from the Chart Nifty is coming out of a converging triangle and Nifty closing in green after every fall means now it is a market of Buying at dips.

Now as Dow is closing at 300+ so except a gap up opening on monday and getting past the resistance level of 5600 and now next resistance come at 4800 levels where lies tha 150 DMA.But if crude supports and Global market bear rally that can be crossed and Final target comes around around 5k-5.1k.

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