July 20, 2011

NIFTY Intraday Update

  • Head and shoulders have given good correction in favor of bears.
  • Now correction may continue only if nifty break below 5550 level

  • Nothing much has changed from the start of the series.
  • We are still hovering around the 5600 level.
  • Bears and Bulls are not being allowed to pull away from this level.
  • Below 5600 - 5604 its the bearish zone. above 5604 Bulls have a chance to breakout.
  • Bigger breakouts are either below 5496 or above 5740.

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