the rectangle, the trend channel and the ascending triangle...

nifty and reliance tgts according to chart patterns(click on the charts images to enlarge),

the rectangle:


the trend channel:


the ascending triangle:

crouching tiger, hidden dragon?(01 april 2009)...

an inside day yday, needs to breakout for short term direction although closing above 3000 lvl the previous uptrend is still on. bulls still dared to pull up nifty so it was only a profit booking as support tline was held, but bears may come again 3147-3240 region.

short term resistance 3094/3110 strong one at 3147, support 2960-2970. unusual buying in cash by diis above 1000 cr, fiis sellers in both cash and f&o, maybe something to do with nav or financial year closing exercise.

its april fool's day so don't take anyone's trading call seriously today!

enjoy, its just a joke:)

nifty chart...

nifty faced strong resistance near 3147 on expected lines and got reacted to come down yday and tested our support trendline near 2970 but managed to close above it. for today it must close above 3000 lvl(above tline) to maintain this uptrend, else further bearishness below tline it may correct according to fibo lvls as given on the chart above.