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Wednesday, March 16, 2011

Important support levels

Since expecting a fall tomorrow, we should draw our important SUPPORT lines . I found 3 very important ones colored in Orange.Even more important are the meeting points of these lines. Those 3 points come at 5433, 5417 and 5383.
 The up-move from 5373 has retracement fibo levels are at 5435( 61.8%) 5408 ( 78.6%) and lastly offcourse 5373. Try to square off your PUTs at these levels. Because no matter how hard markets fall they always make a bounce back from important levels.


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