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Saturday, January 22, 2011

Nifty Weekend Update



The first chart shows the formation of descending triangle which is a bearish pattern. watch out for the break if the channel in either direction can give a good move of around 200-220 points.

The second chart is a falling wedge in daily chart which is a bullish pattern.

 Things to keep in mind
Ichimoku still below komu with a strong bearish cross.
Bearish engulfing in weekly chart.
Reliance and SBI results on Monday also RBI meet on Credit Policy on Tuesday may give a direction to the market for the short term
Expiry of Jan series on Thursday.
EXPECTING A THRILLER OF A WEEK AHEAD, WITH SHARP MOVES IN EITHER DIRECTION







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Posted by Harpreet at 4:10 PM

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NIFTY SAR(STOP AND REVERSE) FOR THE NEXT DAY IS POSTED ON DAILY BASIS ON FACEBOOK GROUP NIFTYHOLIC.

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NIFTY SAR FOR 23RD MARCH 2011

SAR FOR 23RD MARCH,

SELL NIFTY BELOW 5405 AND GO LONG ABOVE 5430

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LAST TRADE

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AS ON 22ND MARCH

NIFTY RANGE FOR THE MARCH SERIES 5214.38 -- 5613.32

PCR INDEX OPTIONS-- 1.13(BEARISH)

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