Sunday, August 21, 2011

Weekly Nifty chart indicating fib level at 4877..preview..

Nifty closed below 4877 but looks like that it got supported  at  trend line passing thru 4811, drawn parallel to previous 1 , which is passing  thru 5300 ..if this will work nifty will trade in new trading range ...4820 to 5310..5580''
below 4877 ..38.2 %  retarce ment  dual combination of trend line and fib level support  is at 3980 level 61.8 %  retracement ..
4810 is crucial for Nifty....above it ...Bulls..
and below it bears only..

so respect  levels ...trade according to trend...


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