Nifty will 4950 will be elusive?

Nifty after making a low at 4814 for 3 days in a row than feeling Resistance now at 4950 levels,As a common saying in Previous support become resistance it is proved again in charts shown above.But it would be a good to be on long side as FII bought heavily in Index Futures today in tune of 2300 cores and around 400 cores in cash and Dow is also So technically system remain ripe for clearing the elsuive levels.But will it be able to sustain that? I think yes let market tell

However, it will be entering the resistances @ 4970-4985 & 5000 (Psychological) & then the 5050(Week Ema).

Breakout in Triveni Engg.

These type of trades are easy to trade as breakout has happen wait for stock come to support level of 123-25 range or let it cross today's high of 132 and it will brezze for a tgt of 136 140 and 148 in this week

ICICI Bank Break of Symetrical Triangle

The candlestick on the daily charts indicates an‘Engulfing Bull’ characterized by a large white real body engulfing a preceding small real body, appears
during a downtrend which is an important bottom reversal signal and a implies a comeback by bull. It signifies that the downtrend is now losing momentum and the bulls started to take the lead.
Resistance for the scrip is at 887-908-978 and support is at 778-757-721.

Important Note:As per DOW THEORY, breaching of a trend
line would be invalid when its crosses back above trend line within 3 trading days.

Nifty Weekly Technicals

Nifty daily charts are attached her by

1. Nifty has for formed a Bullish Hammer Formation

2. The significance of this pattern will be confirmed on Monday if we see a white candle or nifty opening gap up and sustaining that move.
3. Nifty futures has left a bear gap between 4976 and 4964. This gap may prove to be a strong resistance to cross. Similarly, the low of 4801 made on Nifty futures on 27th November 2009 should act as a significant support to markets for now.
4.We can see a pre budget rally till levels of 5200 if the above mentioned levelsr are crossed.
5.RSI is in oversold region as shown in the charts,as mentioned in previous crash also where RSI reached the lowest level and than we have seen a decent bounce.
6.As the fall have been sharp we will see an equal and unbridled pull back.



AS seen in monthly charts Nifty has never been below 5 Month EMA and it act as a major support and a we see a decent pullback from this levels same case is happening now.Better is to exit shorts and take longs with sl as 4770


Levels of support are 4800 4766 and 4650

Resistance at 4950 and 5110.

Axis Bank @ 100 EMA

Stock has shown a strong support at 100 EMA in dec crash and this crash also showing a very good and strong support,It took support at 965 and showed a bounced with rising volume showing bulls are having good upper hand on this counter,Buy on dips till 100 EMA holds

Levels to be watched buy above 1051 for a tgt of 1076 1120 support at 962