Elliott Wave [01-02-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Trade Resistance 5543-5529 [5526 EXACTTTTTTTTTTT High]

Cluster of support 5380-5399-5420 [5416 EXACTTTT Low]

31st January 2011 OHLC : open 5452, High 5526 Low 5416 Close 5505

1st Feb January 2011 [01/02/2011] - Technical View of Nifty / Technical view of 

Market :

View of Market : 

Todys Quartely result : Bank of India, Blue Dart, Century, Extrusions, Chettinad 

cement, DCM Shriram Consolidated, Gujarat Ambuja Exports, Glenmark, HEG, NMDC, 

Radico, Sun Pharma, Syndicate Bank, Vijaya Santhi Buliders

Technical View of NIFTY : 

+ve : Exactly Nifty has taken the support at previous positive breakout neck line 

and retracement level 5400.

-ve : 23.6% Fibonacci Range 6181-5406 coincide with Elliott Wave target line

at 5574-5585, Elliott Wave Target line resistance at 5526-5538. Below Houly EMA

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