follow up on view/lvls...

accurate analysis again... and lvls that work!...

mcx crudeoil near term resistance and support lvls given held perfectly for first couple of days nice 2 way trading.
once 3780 taken out, sharp upmove toward short term resistance took place.

nifty also faced resistance at 6000 and 5800 offered very good support for first four days with just a deviation of +-20 points on intraday.

there were profitable and sharp trading opportunities on both sides up and down within the given range.

short term trend is still down and the view given some posts back is now seems to be coming true i.e. lvls of 5800 and 5600. large daily mkt turnover seen in last 3-4 days.

similarly see how the  given resistance of 3825 now became the support in 26th nov 2010 trading session too.

mkt ahead...22nd nov 2010...

nifty spot

outlook: in short term downtrend and more weakish than global stock mkt indices but oversold

near to short term resistance: 6000
near term support: 5800

usd index

still bullish if near term support 77.30 holds
in the short term small reversal but yet to be bullish immediately

crudeoil

comex($/bbl): in near to short term downtrend, overall sideways, long term picture as given about more than eight months ago i.e rougly support near 70 with upper tgts 90/105-110.

on mcx near term resistance 3780 support 3670
short term resistance 3825 support 3560.