sensex,nifty,market - View Single Post - Nifty technicals for today (21st July, 2008)

Kiran · 07-21-2008, 01:07 PM

After a long time buy and sell signal have given a whipsaws.
Chances are high that the markets are developing bullish bias within the overall corrective.

Technically a rally to 4500 is possible. but the corrective nature means Whipsaws are possible. For example, july 2008 has been a very range bound market implying losses for a positional traders.

Support exist at 3800 and Resistance :4200-4300-4500.

07-21-2008, 01:07 PM	#2 (permalink)
Kiran Status: Administrator Join Date: Feb 2008 Posts: 181	Nifty Technicals for Today (21 July, 2008) Continued After a long time buy and sell signal have given a whipsaws. Chances are high that the markets are developing bullish bias within the overall corrective. Technically a rally to 4500 is possible. but the corrective nature means Whipsaws are possible. For example, july 2008 has been a very range bound market implying losses for a positional traders. Support exist at 3800 and Resistance :4200-4300-4500.