NIFTY AS EXPECTED AND PREDICTED TOOK A HUGE DIP IN THE MORNING AND TESTED THE WEEKLY SUPPORT @ 4570 LEVELS.

THEREAFTER IT PLAYED WITH THE R-PIVOT @ 4635 LEVELS THROUGHOUT THE TRADING SESSION. AKIN TO YESTERDAY, TODAY ALSO, WE SAW TWO CONSECUTIVE CONTRADICTING CANDLE STICKS ON A 5 MINUTE TIME LINE – ONLY THIS TIME AROUND IT WAS AN INVERTED HAMMER FOLLOWED BY A HAMMER. TO COMPOUND WOES THE TWO CANDLESTICKS FORMED A PENTA-TOP PATTERN @ AROUND 4645 LEVELS FROM WHERE WE TANKED TO 4605 LEVELS AND THEN RETRACED A SHADE TO CLOSE A BIT LOWER THAN YESTERDAY. WHAT IS OF CONCERN IS HOWEVER THAT THE 5 DMA IS NOW LOWER THAN 10 DMA. WHILE TODAY WE SAW A BOUNCE BACK AFTER NIFTY SLIPPED TO 4571 LEVELS, HOW NIFTY ENACTS OUT ITSELF TOMORROW IS NOW A ONLY A FEW HOURS AWAY.


NIFTY

BUY ABOVE 4593 LEVELS. TGT 4606-4617-4630-4638-4647-4660. IF IT BREAKS 4665 WITH VOLUMES THEN NIFTY WILL BE HEADED FOR 4680-4696-4712 LEVELS.

SHORT BELOW 4560 LEVELS. TGT 4540-4527-4511-4496. SL 4575

FOR A 1 DAY FREE TRIAL, SERIOUS INVESTORS/ TRADERS MAY WRITE IN TO beatdstreet@ymail.com or sms on 9820010841