Trend Line [03-02-2011]

YESTERDAYS COMMENTS AND PERFORMANCE : 

YESTERDAYS Predicted Nifty level and Actual levels :

Trade Resistance 5476-5483 [5490 ACTUALLLLLLLLLL High]

Stop Loss for long 5399-5404[515 ACTUALLLLLLLLLL Low]

2nd Feb 2011 OHLC : open 5469, High 5490 Low 5415 Close 5432

2nd 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 : Abhishek Industries, Acc, Engineers India, 

Whirpool, Gujarat Ambuja Cement, Cummins India, ICSA

BSE FORTHCOMING RESULTS

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.  Negative Triangle Breakout target almost reached and Target matched with Mid term Breakout Support and Support trend line

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

at 5574-5585 [yesterdays high exactlyyyyyyyyyyyy 5490], 

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

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