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Monday, August 3, 2009

nifty

A new uptrending channel is in place. SBI, ONGC have broken out of 2 months consolidation. If RIL moves past 2035, that will give additional momentum to the index.

Watch the weekly resistances in the Pivot table and book partially closer to the target.

Nifty has cleared the prev. highest close and will meet with stiff resistances in 4770 - 4820 zone.

Despite "OB" readings, Nifty continues its uptrend with larger trend(UP) intact.

Posted by appleadvisory at 8/03/2009 05:13:00 AM

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