Nifty Swing Trade:
As per two day swing trade currently it is in sell mode and the trend will reverse on move above the 3067 level (future). As per swing trade it appears that nifty is on its way to 2971/2922 and any breach of the same has all chances of nifty moving towards the 2728. The points being discussed in the swing trade are that of the future.
Current trend – Sell ( sell generated at 3108)
Reversal Value - 3067.
Bankex
As per two day swing trade currently it is in sell mode and the trend will reverse on move above the 3067 level (future). As per swing trade it appears that nifty is on its way to 2971/2922 and any breach of the same has all chances of nifty moving towards the 2728. The points being discussed in the swing trade are that of the future.
Current trend – Sell ( sell generated at 3108)
Reversal Value - 3067.
Bankex
Current Price - 4093(future)
Current Trend – Sell (reversed to sell at 4165)
Reversal Value - 4194
It may be noted that nifty has again moved above 100 Day EMA today and is just placed at 100 Day EMA. If Fibonacci is applied nifty has gone below the 23% level and not headed towards 38.2% which appears to be at 2910 and any breach of the same has all chances of nifty moving towards 2839 and 2768(all the levels are that of future).
Current Trend – Sell (reversed to sell at 4165)
Reversal Value - 4194
It may be noted that nifty has again moved above 100 Day EMA today and is just placed at 100 Day EMA. If Fibonacci is applied nifty has gone below the 23% level and not headed towards 38.2% which appears to be at 2910 and any breach of the same has all chances of nifty moving towards 2839 and 2768(all the levels are that of future).
M.Sri Mahidar
Tuesday 31st March 2009, Time 8.30 P.M IST
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