3rd October,2011 Monday
Nifty opened down with a gap today.Meanwhile Nifty has filled the up gap created on 27thSept,2011.Maybe that was the sole reason for the Nifty to open down with a gap.Today 4827 will act as a Major support.
On the Monthly chart it can be seen that Nifty is continuously falling down for last 3 months.It is trying to take support at 4777.This figure is crucial as it is a 38.2% retracement drawn from the bottom of 2252 (Oct 2008) to the top of 6338 (Nov 2010).Nifty will try to take support at this crucial level.If this Level is breached ie if Nifty gives a close below this level in October,god save Nifty then.
Nifty opened down with a gap today.Meanwhile Nifty has filled the up gap created on 27thSept,2011.Maybe that was the sole reason for the Nifty to open down with a gap.Today 4827 will act as a Major support.
On the Monthly chart it can be seen that Nifty is continuously falling down for last 3 months.It is trying to take support at 4777.This figure is crucial as it is a 38.2% retracement drawn from the bottom of 2252 (Oct 2008) to the top of 6338 (Nov 2010).Nifty will try to take support at this crucial level.If this Level is breached ie if Nifty gives a close below this level in October,god save Nifty then.
No comments:
Post a Comment