Monthly Archives: February 2013

#142 Nifty Update: 6/7 Feb and NIFTY 5921-5944 could be the turn around point!

As i intimated in my last post tht #nifty could see some slide down to 5944 n today it was almost achieved today. Just forgot to inform you guys tht whtever tgt i give on nifty, you should consider +/- 5 points as most of the traders follow technicals and sometimes all of them get common targets. Anyways coming back to NIFTY chart today i have seem some development of strong support if i consider only RSI. But taking into consideration “small double top” at 6101-6111 , 5921 is inevitable target. Even a medium term average is exactly at 5921 today. But 5947 was also a important support. So now next 2 session are gonna be crucial. Taking into consideration my Time analysis, 6th or 7th Feb could be the turn around day or you can say crucial day which could have a breakout on either side. So if the market make low in the range of 5921-5944 n see some upide thn go long blindly in next 2 days and on other side if you see close below 5921 in next 2 days thn go short blindly. I am biased on bulls to return within next 2 days. Will post you guys back once i get some confirmation.