Daily Chart
Chart II
Follow up selling led to a break below the neckline which is a negative. The fact that the break above the 61.8% retracement level could not sustain shows lack of momentum on the upside.The support from the 10dema at 1123 held .This was also the 23.6% retracement level as shown in chart II.
Support is at 1114-1107-1094-1082 .
Resistance is at 1137-1144-1150.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
2 comments:
Madam, earlier you give one long term chart of 30 minutes which shows that nifty crosses 3000 zone target as 1800 pts rise to 4800. It was an excellent chart. But, I feel is there any long term chart like that alerts us for a major correction of above 1000 points nifty? May be from 6120 zone??. Guide us with the long term chart.
will put it up when we get a top else difficult to do so
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