Nifty technicals for today (21st July, 2008)

Kiran · 07-21-2008, 12:56 PM

Daily Technicals for NIFTY
NIFTY closes at 4092.25 (3.67% up)

Swing indicator: UP. Swing reversal on close < 3790

Intraday strategy: Buy on declines target R1-R2

S 2:3858.75
S 1:3975.45
Pivot:4043.00
R 1:4159.70
R 2:4227.25

Regards
Kiran

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, 12:56 PM	#1 (permalink)
Kiran Status: Administrator Join Date: Feb 2008 Posts: 165	Nifty technicals for today (21st July, 2008) Daily Technicals for NIFTY NIFTY closes at 4092.25 (3.67% up) Swing indicator: UP. Swing reversal on close < 3790 Intraday strategy: Buy on declines target R1-R2 S 2:3858.75 S 1:3975.45 Pivot:4043.00 R 1:4159.70 R 2:4227.25 Regards Kiran

07-21-2008, 01:07 PM	#2 (permalink)
Kiran Status: Administrator Join Date: Feb 2008 Posts: 165	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.

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