Nifty an Intresting Observation

By | July 16, 2009


These are 2 charts presented for nifty an intresting observation what i found

1. We have formed Doji today which gives a Trend Reversal signal
2. Volumes are were pretty good today as compared to other days
3. We have stopped our self at pullback to neckline typical text book language if we go.
4. Now the best part On 22/9/08, NIFTY HLC (High Low Close) was a 4303-4203-4223. Today the HLC (High Low Close)were 4303-4205-4234 a neat symmetry. The next day in 2008 saw a flat opening and a fall as seen from charts.Dow looks like will end falt so that as possiblity of a flat opening Nifty never looked back for the next three days, until the touch down at 3715, which is too close to my next support of 3705. Well CIT will file for bankruptcy can till led to a global turnmoil again

Lets see how this scenario spans out To be valid we need to go below 4205 and stay below 13 EMA which is at 4187 on Closing basis.

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