Nifty

Position : Long 1000 [From 6181]
Profit/Loss : 6187(CMP)-6181=6*1000=+6000

20th May 2013 
Nifty Trade Support Range 6153-6147
                   Resistance Range 6200-6211
Nifty Trend Support Range 6110-6105
                   Resistance Range 6235-6241

Technical Details :Trend line from Life time High 6357 to
                            lower Top 6338 is at 6315-6321
                           Trend line from 6338 to Lower Top 6111 is
                            at 6110-6100.
                           Nifty Recovered From 5477, 38.2% (5507)
                           of swing 4531-6111

Next Lower Top 6315-6321 ??? Lower top trend line from 6357

50% of Profit Booking Area 6265-6275
50%of Profit Booking Area 6305-6315

Analysis : The 161.8% of the swing 4531-5629 is @ 6307
               Lower Top Trend Line is @ 6315-6321
               Upper Top Trend Line is @ 6256-6266 [as on today]
So once Upper tops trend line coincide with above two resistance, then profit
booking with fresh short will be possible, So wait and watch for Fresh positional
short around 6307-6320.

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