Nifty Analysis And Bank Nifty Analysis For 20thSep2011

Indicator 
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Nifty Monthly  Oversold -Bearish
Nifty Weekly   Bullish
Nifty Daily    Bullish (About to turn bearish)


Trend Indicator
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Nifty Monthly Long above 5526(HEMA) and 5081(LEMA) (TREND UP ABOVE 5276)
Nifty Weekly  Long above 5131(HEMA) and 4951(LEMA) (TREND UP ABOVE 5047)
Nifty Daily   Long above 5081(HEMA) and 5001(LEMA) (TREND UP ABOVE 5042)
Nifty Hourly  Long above 5049(HEMA) and 5029(LEMA) (TREND UP ABOVE 5039)


JNSAR
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Nifty Weekly JNSAR 5049 -stay short
Nifty Daily  JNSAR 5022 -stay long
Nifty Hourly JNSAR 5056 -stay short


Nifty Havala Level
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4840 (August Closing)


Nifty Aggressive Trading
---------------------------------
Range 64  max 5096  min 4967
STOP LOSS 10 points only.


Support and Resistance
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4680-4784-4810-4865-4951-(5006-5011)-5057-5114-5182-5225-5296-5350-5393-(5433-5460)-5490-5502-5532-5539-5550-5580-5606-5616-5630-5658-5667-5729-5754-5775-5865-(5940-5965)-6090-6175-6250-(6325-6350)


Open Interest 
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Support    4900/5000
Resistance 5100/5200


Trade Conclusion
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Above 5060, maintain long position .........
Elliot Wave and Fibonacci Suggesting , we may travel to 5200/5350. (Valid above 5060)
Nifty may face  resistance at 5175-5210 /5325-5350


Below 4910 /4890 => Extremely bearish 


Stop-loss is an essential risk control mechanism and it should always be there.
Hope that helps .Take care .Have a happy trading.
Bank Nifty Analysis on http://tradeinbankonly.blogspot.com