NIFTY UPDATE 24TH APRIL

WE HAVE SHOWN IN LAST POST ABOUT CCI TURNING UP AND THAT HAPPENED .NOW WATCH 3488 AS MAIN RESISTANCE SUPPORT RANGE 3390-3406.

Regards

Nifty Trends Team

Nifty as on 21st April 2008

This is the Daily chart of Nifty Futures. As seen from it, Nifty fell due to divergence on cci with price. Now we see that Nifty is near the support. Turbo cci has gone down. We have to see whether it hooks in the next 2 days. If it hooks then market would have taken support and we can see an upmove again.

NEARING MAJOR HURDDLE

TIME TO BE CARE FULL OR SAY CARE FOOL Does not matter . If u are long keep 3320 sl .

Market near multi month trend line if you can see and last day dozi was created in nifty daily so it can be warning sign . IF you see market in April , May , August ,october all neared the trend line and never crossed .



RETRACEMENT LEVELS MENTIONED IN CHARTS .


Regards

NiftyTrends Team

Nifty update

As stated in our previous chart, Nifty is doing a superb salsa!!! and surprised all intra day. This rise seems to be very fast and furious discounting many factors like rate cut etc. Just a view In this rally no one talking about bear market all have turned bullish . We should remember that we have not come to 8000 levels from 21000 because of any problem in India . This fall was led by DOW which is yet to give break out failing of which can result sharp fall .

Remember in our last post we have shown extend of Bear market rally. We are yet to break out either on Charts of dow jones or it happens to nifty also remember that till next week we are having alternate trading days .Keep you Profit floating and enjoy the ride .


Support : 3224 , 3160

Resistance : 3390-3430.

Regards

Nifty trends team