support tline test...

the support tline is being tested, lets see if it holds or not in coming days, if brks on closing basis then 2500 may come as next lvl on downside.

chart magic(cont'd)...

nifty bounced again yday from the support lines on the chart earlier given, how effective it proved again!!!

weak US and asian mkts can have effect on upmove but if nifty spot stays above 2822 the pullback may continue upto 2884/2910/2950.

its magic again...

as the reader might recall, months ago i had posted channels and fan on nifty chart indicating resistance and support zones which is still providing amazing results on the chart.



re-posting the same chart again here. u've gotta admit its really magical, isn't it.

mkt view...

so over the weekend mkt behaved on expected lines. crude reacted from near $50/bbl and came down and yet to become bullish, it seems to be now moving in an short term expanding triangle whose lower support line is around $30/bbl, profit booking also took place in gold which was also mentioned, and nifty also took support near the very important lvl of 2812.

US mkts fell on friday which may have impact on nifty on opening, its in short term downtrend, eod trendline should be held on closing basis for intermediate uptrend to continue. if breaks then may come down to upto 2500.