Feb 272012
Nifty(5429):
Nifty Weekly charts
A dark cloud cover on weekly charts on Nifty - this a reliable pattern but we need to see a follow through to this pattern. Momentum agrees with price so far. So we must look for a corrective decline to 5200 or 5077.
IF we see a bounce to 5490-5510 in the first 2days of the week, it might shorting opportunity for the extreme short term.
Supports:5390, 5210 and 5077
9 Responses to “Technicals 27th Feb”
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jai, what levels can iaccumulate l n t ? tata steel and idfc?
See today’s post wait for phase 3 to get over. U might think of being bullish at or below 5100. Or if ur afraid that u miss the move waiting for such a dip. Use 20-25% of capital now and wait for further dip.
best,
Jai
Jai,
What is the update on nifty. Support of 5390 broken will it test 5210 in a day or two.
Ajay
It might get deeper than 5210. 5410-5450 could see the end to the this bounce.
Hi Jai,
Looking at the way the nifty has recovered after yesterdays fall do u still see a shorting opportunity for the short term?
Thanks & Regards
Parag
update in today’s post. If you have any doubts, let me know.
Jai,
Do you think USpirits is done with it’s down move ?
Regards
Seems doubtful RUT. But it looks like doing a double zig zag right now. So may head higher in the short term.
Thanks….