Bears dominated Bulls in the week starting 5th Dec 2011. It really gave wonderful opportunity for the traders to trade both sides of the market in alternative weeks. As I kept on saying that the large trend is still down and Nifty playing strictly in this range.
Now for the week starting 12th Dec 2011, 4840 plays key support level for unfolding any upmove in the market. At the same time 4940 acts as good resistance. So, if 4840 breaks then what’s next?
Below 4840 it can take Nifty further down to 4780 and 4670. The recent low registered was 4639.
The market breadth was negative with 450 advances to 1,000 declines on the NSE.
Nifty Fibonacci Chart
Trading Levels – 4670 – 4780 – 4800 – 4840 – 4960
Nifty Daily OHLC Chart
Nifty Daily Ichimoku Chart
Nifty Monthly Chart
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hello great post here.
I think I should read your site from start. Can you tell me How to be better in stock trading and these stuffs. I suggest write a book on this.
hope everyone enjoyed the move in nifty. 4760 done.
Hi Ms. Priya
Can nifty shorting be done at 4800 level.
Looking for ur reply.
Thanks & regards
Akhil
with 4830 spot as stoploss yes you can.