Positive Divergence [08-02-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Trade support 5353-5365[5376 Actual low]

Trend resistance 5463-5449 [5440 Actual High]

7th Feb 2011 OHLC : open 5430, High 5440 Low 5376 Close 5396

8th Feb January 2011 [02/02/2011] - Technical View of Nifty / Nifty Technical Analysis / Technical 

view of market / Nifty chart / 

View of Market : 

DJI -Closed positive +69, FUTURE flat, SGX NIFTY 5397-10 - 

Asian Market - FLAT/+ve

Forth Coming Results BSE NSE : Todys Quartely result : Adani Power, Ansal Property, BEML, Finloex 

Cables, Mangalore ref, Mreck, Mukta Arts, Patni Computer, Pidility Inds, Power Grid, PTC India, 

RAJ oil. 

Technical View of NIFTY : 

+ve : POSITIVE DIVERGNEC in indicators [Price makes lower lows, Indicator makes higher lows].  

Exactly Nifty has taken the support at previous positive breakout neck line and retracement level 

5399. Honour the 61.8% (5374) of Total retracement 4786-6338. So possible for some bounce back 

from here. The 5400 Put option has witnessed higher Open interest of nearly one crore shares., 

indicating it to be a strong support in the near term,  So 23.6% swing 5374 is a key for further 

down side. 

-ve : Sideways, Hold Below hourly EMA and 

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