NIFTY FIB RETRACEMENTS

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

NIFTY 20TH JULY

nifty had made double top near 3200+ and today we did double top downside target
2900 is a good support also tomorrow being being big daddies result reliance much depends on that.Trend from last few days is such very good results too were not able to hold the markets today ACC came up with fantastic numbers still it fell like cards so sentiments are heavy at the moment crude etc.I still feel long should be taken with care.
cheers
rish

NIFTY 18TH JULY

The double top made near 3200+ levels has a downside target of approximately 2910-2920
today as we saw,there was no buying pullback that showed the selling pressure , most heavyweights looks oversold so bounceback is not ruled out 2900 shud be a good level to buy some, though its advisable to be quite carefull while buying as today we fell as if we opened to fall traders will enjoy this market well few important levels 3000 is a pshycologicaly big level breaking of that will invite fresh selling.The upmove will be valiadated after we break that slant downmove trendline till then shorting looks more appropriate while trading.
cheers