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Thursday, July 28, 2011

Nifty for tomorrow

Another sell-off on HUGE VOLUME. Most probably we are going down tomorrow too to touch that RED trend line . Target 5440-5430. Expecting reversal only after that .A hint of divergence in technicals.

Taking a closer look at 4 hour chart . The PINK line , the Thick GREEN line , and the BLUE DASHED line intersects  at 5440. SO thats where I expect NIFTY to touch down tomorrow and return for a little rally towards that BLUE trend line which was broken.

Parrallel channel in 90 minute chart . Looking the lower line to get HIT.

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