Nifty 50 Turning Bearish

By | February 2, 2009


Hi all

Was very Busy yesterday not able to post weekly calls

Hope u all are happy with sms service.

Nifty Bullish set up which was formed yesterday all went in wind as today due to week global cues Nifty went down almost 3%.Now as from my previous chart Nifty is making lower Highs and is probably will make lower lows.

Reliance despite of good news today did not run up.Relance now has support at 1230 (20EMA)

Dow zones has broken an important support of 8000 ans as i write it is down almost 80 points.S&P Index is very near to its crucial level of 800

So i am negative in market but lets see if market is able to break tge lower range of 2670.

Trading Ideas

RELIANCE COMMUNICATION SELL IF BREAKS 155 147 and 140 SL 159
TATA STEEL SELL BELOW 175 TGt 165 and 155

Regards,

Bramesh
09985711341

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