Tuesday, February 16, 2010

Nifty update for 17-02-2010

Today Nifty Closes above its Pivot Points 4843. If Nifty sustains above 4864 then first target appears at 4990. If sustain above 4990 then next target appears at 4930. Unable to sustain above 4990 then short nifty at 4985 with stop loss 4900.

On the downside, if Nifty is sustain below 4848 then first target appears at 4810 and below 4810, next target appears at 4755. After fall if nifty sustain above 4810 then buy Nifty at 4820 with stop loss 4810.

Trin is 5.12 which indicates highly overbought. Nifty hourly chart shows bearish gartley pattern. Therefore be cautious.

Please post your comment.
Posted by Unknown at 2/16/2010 11:16:00 PM

1 comment:

  1. GANESH PLFebruary 17, 2010 at 7:34 AM

    Please check first paragraph, I feel some mistake your mentioning nifty values ### ( If Nifty sustains above 4864 then first target appears at 4990. If sustain above 4990 then next target appears at 4930. Unable to sustain above 4990 then short nifty at 4985 with stop loss 4900.) ### Sorry to disturb you..
    Thanks.

    Regards,
    Ganesh.

    ReplyDelete

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