Wednesday, August 12, 2009

BROAD VIEW ON NIFTY

Cash Nifty:---On daily 50 day sma support near 4409----and below this next support between 4386---4365. these are the strong support levels---if its unable to hold these levels then next lower target between 4080--4020.
Negative divergence in most indicators----and expected lower target--3460--between 25th and to 5sep---.stop is above 4560----

Reliance ind: Formation of Triangle---below 1965--next target at least up to 1710---minor support near 1870---strong only above 2120----

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