SATYAM SHOCK PROVED TO BE BIG SENTIMENT REVERSAL FOR ALL MARKET .
NIFTY CLOSED ABOVE SUPPORT AREA 2805 THAT IS ONE BIG POSSITIVE THING . NIFTY NEED TO CROSS 2940 TO GAIN MOMENTUM FOR BULLS . WE FEEL WE WILL BE IN RANGE TILL RESULT START COMING AND THEN WILL TAKE ONE SIDE MOVE .
ABOVE CHART SHOWS ACCUMULATION DISTRIBUTION RESTING NEAR TRENDLINE THIS WAS TRIGGER WE USED TO PREDICT SHORT TERM RISE FROM 2550 LAST TIME.
THE BEST IDEA HERE IS TO WAIT FOR TREND TO CLEAR AND THEN TAKE DIRECTION .
BULLS REQUIRE 2940 TO BREAK UPSIDE FOR NEXT MOMEMTUM TO RESUME
BEARS NEED TO BREAK 2777-70 AREA AND CLOSE BELOW FOR DOWNSIDE MOVEMENT .
REGARDS
NIFTY TREND TEAM
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