Nifty Weekly Chart Update -20Aug2012

• Weekly Stochastics Chart Show bullish view 
• Weekly line chart shows a crucial support resistance line. Weekly close above this line will strengthen bulls further.
• Bulls need to close above 100 Week SMA and the falling resistance line for gaining momentum.
• If price moves above 100 Week SMA then it could lead to upper Bollinger band at 5450.

Nifty Daily Chart Update -16Aug2012

Daily and Weekly Trend is up above 5270(SAR)

Support are 5330-5280-5250-5160-5088-5040-5000-4950-4800

Resistances are 5380-5498-5630

Piercing Pattern at 5164 ,5280 ,Change of polarity at 5280

Profit Target on Long Side are 5375-5500-5630

If market break through the structure (5377) ,123.6  is target (70%)

If market break the structure (5377) 123.6 ,161.8  is target (50%) -always trade with minimum position 

Bearish engulfing pattern in 60 min  @5387 

Nifty Daily Chart Update -13Aug2012

Daily and Weekly Trend is up above 5221(SAR)
Support are 5280-5250-5160-5088-5040-5000-4950-4800
Resistances are (5344)-(5377-5385)-5498-5630
Piercing Pattern at 5164 ,5280 ,Change of polarity at 5280

Inverted Hammer or bearish counter attack pattern 5375 (Still  holding)

38.2% of current rise from 5166 to 5376  is 5296

Symmetry move and 161.8 of previous market structure completed. 

Break way Gap at 5220 was immediate major support 

Profit Target on Long Side are 5350-5375-5500-5630