You must
read previous articles and watch above chart carefully to understand this
article completely.
Finally,
Nifty has traded well above 5125 to generate the next technical target at 5176.
I must quote that we need to see failure of one technical resistance on rise to
get a fall. We can just speculate over one of those resistances.
I still
like to say that rise above 5125 will not be easy to trade. Yesterday was the
most perfect example. A rising has not given much opportunity on index.
Technical
charts are suggesting few things -
Yesterday’s
top will turn out as crucial figure for today’s trade. Look the given trend
line on above chart, which is joining from 5020 and 5125. Extension of that
line emerging resistance @ 5156 too.
It is
complete true that end –of-day charts are still supporting bulls for a rise
towards or above 5176.
5176 = I
have mentioned earlier also. Take a fall from 5040 to 4770. If you take 1.618
times from 4770, it will come at 5176
In case
of downside 5090 is crucial support as break of which will result fall towards
5040 and then 5015 levels.
I have
already suggested my paid subscribers that the rise which started on 4th
June 14, 2012 may continue with its direction till 17th or 18th
June, 2012 .
We must note that today is the 9th day from 4770. This current
rising trend has to end either today (support it fail to cross yesterday’s high
then it will count as the end by yesterday itself i.e. 8th day) or
latest my Monday only.
SGX NIFTY
is now quoting @ 5110, a hint for small gap down. Will it be bear gap down? (A
bear down is the one which never fills in same trend).
Depending
on market condition we will release intraday updates too. Till that time, you
can post your views also so that I can present better result for you. Intraday
posts are available on www.viecapital.com
only.
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Thanks
& Regards,
Praveen
Kumar
Mail id –
Praveen@viecapital.com
Mobile
number – 09893369889
