Trend Line [04-02-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Trade support 5402-5407 [5418 Actual low]

Short covering above 5479 [EXACTTTTTTTTTT to 5532]

3rd Feb 2011 OHLC : open 5430, High 5532 Low 5418 Close 5526

4th Feb January 2011 [02/02/2011] - Technical View of Nifty / Nifty Technical Analysis / 

Technical view of market / Nifty chart / 

View of Market : 

Forth Coming Results : Todys Quartely result : Balrampur Chini, Cipla, Divis Lab, Finloex 

Industries, Hindustan Copp, Nagarjuna Constr, Oracle Finance, Suzlon Energy and Titargh

Technical View of NIFTY : 

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

level 5400. Honour the 61.8% (5379) of Total retracement 4786-6338. So possible for some bounce 

back from here. Yesterdays breakout's target 5600+. Hold above hourly EMA. wait and watch.

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

at 5569-5573.  Honour previous high 5539 as resistance and close below this level.  Cluster of

resistance above 5550

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