- A Double top is possible in Nifty Futures at 6044.
- If NF starts trading below 5934 we can expect big correction.
- But for now i am expecting 5934 level to give support for the index.
September 22, 2010
NIFTY SPOT CHART
NIFTY FUTURES CHART
- First chart is the nifty spot daily time frame which shows the narrowest of channels. Nifty is moving up steadily without violating the channel.
- Second chart is the 30 minutes time frame of nifty futures which was posted yesterday. This one shows how easy it is to make money in a trending market, provided you are going with the trend not against it.
- S&P 500 is trading above 1131 which is the recent breakout zone
- Immediate resistance for the Index is 1150.
- Today There was one attempt to go above 1150 which was met with resistance. Index went up till 1148 and then retraced back and closed at 1140 level.