Thread: 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

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.