Nifty Weekly Technical View

By | August 15, 2009


HI All,

Wishing all of the Blog readers a Very Happy Independence Day.

Nifty Daily Charts are Displayed above:-
A Clear Inverse Head and Shoulder is developing in the Daily Charts with neckline placed the at 4700 Levels.So be bullish only above 4700 Levels only till 4650-4680 try to book out profits on longs.

Drought can not be ignored by Bulls as the India Still Being agrain economy will definatley come under pressure.So Stocks from Automotive and FMGC sectors can be hammed down.

Now coming to levels which need to be watched.
Weekly Pivot is at 4550

Nifty is Week Below 4510 and can see levels of 4490 4460 4409

Nifty is strong above 4619 for a tgt of 4645 4679 Very strong if closed above 4700 and can see 4780 Levels

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