31/01/2007 Chart - 1

Dear All Clear Rising wedge breakout. Three Times nifty have managed to close above the rising wedge. This time close below 4140. The only +ve factor is, close above 4120 [support line]. So Nifty above 4140 is +ve. Trading volume in a wedge diminishes as prices move toward the apex. The rising wedge implies a situation that is growing weaker. If upper boundary breakout by nifty then tend to move sideways for a period of time before beginning to rise. Major support 4035-3927. Major resistance 4306. Trading Support 4120-4100-4086. Trading Resistance 4128-4140-4174-4199. My advice is book your profit then and there, if u are in profit. Keep your longs if nifty above 4140.regds / SIVA

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