Thursday, July 20, 2006

nifty 21st july



once double top downside was done nifty bounced almost vertical from 2920+ levels
backed by solid world markets and same was followed by indian markets.Todays rise was too much to neglect it usually a large move like this will not end in a day expect more upside in coming days crossing 3200 will mean change of trend as of now 3000 acts like a big pshycological support crossing 3045 will be good for intraday bulls also we have bounced much aboove 38.2% fib retracement thats also a good sign,trade accordingly a good thing that was seen today was that banks showed much needed support many banks closed with smart gains.
cheers

2 comments:

Anonymous said...

Rish I wish we will see 2600/2400 :) soon

Shiree said...

Dear Sir thanks for setting up wonderful trading blog. Your straightforward insight has helped me in understanding TA.
I would very much like your comments on SBI chart . It is showing tremendous rising OBV , is it possible for price to follow suit ?
Best Regards
Shiree

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