Nifty Chart
50% of 4531-6229 is @ 5380
23.6% of 2252-6338 is @5373 - so Trend Resistance around 5368-5380
Major trend line support 5180
61.8% of 4531-6229 is @ 5180 - So Trend Support around 5186-5170
Trade Support 5273-5270 Resistance 5340-5345
Trend Support 5240-5235 Resistance 5368-5380
Below trend support then free fall up to 5180.
14th Statement : "Long time Negative breakout line around
5755-5769. Bulls target is to break this line to get the target 5950 and
hold 5600 as a base on closing basis. Almost all the oscillators and Money
flow indicators are around over bought zone. Weekly trend is still not
good. so keep trailing stop loss for all longs"
1. Negative breakout line @ 5755-5769 >>> EXACT high 5754.55 on 16th,
2. Weekly trend is still not good >>> EXACTLY down from 5755 to 5268
3. Money flow @ over bought zone. >>> EXACT, now in middle.
But still entry for long is not confirmed and not comfortable, because
long term Fibonacci numbers for 2252-6357 states that next support
around 4777 only, and the resistance around 5350-5380 [already
closed below this], so wait and watch the move today.
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