Feb 272012


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

 Posted by at 8:47 am

  9 Responses to “Technicals 27th Feb”

  1. 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.


  2. Jai,

    What is the update on nifty. Support of 5390 broken will it test 5210 in a day or two.


  3. 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

  4. Jai,

    Do you think USpirits is done with it’s down move ?


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