NIfty Weekly View

By | July 5, 2009


Hi All,

Nifty is under the formation of HnS Pattern which is bearish in nature.

4470 Should prove good resistance and 4510 levels should be watched very closely Any Weakness observed at this levels will confirm a bearish HnS Pattern with neckline placed at 4170 levels and if that is broken gives a tgt of around 3600 Levels calculated as 4695-4170=525

Neckline is at 4170 So tgt will be 4170-525=3645 in meadium term

100 and 200 EMA will provide good support Weekly Support at 4210 4170 4095 4000

IF Budget is good and market breaks 4510 than we are 4700 and 4800 Levels

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