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Showing posts from May 29, 2010

NIFTY WEEKLY CHART

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NIFTY (5067) -Above is the weekly chart. For the last three corrections, whenever it correct from the high, downside correction was arround 12% from the highs and at the same time upside highs are coming down in percentage wise.(zoom it, get the clear picture). As per last post, Close below 4800, next downside targets are already given. Whereas it came down to 4786 and did not close below 4800 therefore until close below 4800, timebeing this is the bottom, from there it bounced back and already closed above the first resistance of 5060. Now what next ? Above 5060, optimum upside possible is 5200-5220. But if close above this level, will post when it occures...