Friday, January 14, 2011

NIFTY REACHED SECOND PROJ TARGET OF 5654 ON 30MIN CHARTS

ON A 30 MIN CHART NIFTY MADE A HIGH OF 5874.20 ON 12.01.11 AT 3:30 AND A LOW OF 5695.35 ON 14.01.11 AT 10:00. TAKING RETRACE MENT FROM HIGH TO LOW THE 78.6% RETRACEMENT CAME AT 5835.93 AND TODAY NIFTY MADE A HIGH OF 5833.65 AT 1:30. NOW THE DOWNWARDS PROJECTION COMES TO 5723.12(BROKEN) AND 5654.30(BROKEN) BUT NOT ON CLOSING BASIS. IF 5654.30 ALSO BREAKS ON CLOSING BASIS, THEN NEXT TARGET WILL BE 5544.

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