NIFTY 23rd December 2009

Yesterday mentioned,

Above 4999 will take up to 5024-5039  (But nifty not able to cross 4999 & finally hits 4997)

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Today's view

As mentioned, Nifty has taken a U-TURN exactly on synthetic 70.7% level(4948 level). Now if NIFTY not breaking monday's low 4944 then NIFTY targets 5054-5110-5208 level

If crosses yesterday's high 4997 level will take up to 5027-5054 level.
If crosses 5054 then more upside expected & non-stop rally till 5099-5110

If 4944 breaks  level then panic selling will take up to 4908-4880 not ruled out

-BE CAREFUL IN SHORTS- NIFTY falling wedge(in trend chart) target 5044-5130

Neo-platonic support @ 4948 (major); GANN'S RESISTANCE @ 5014 & 5044 (could be today's high level)

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TODAY SELL NIFTY AROUND 5010-4997 FOR A TARGET1-4985, TARGET2- 4970 keep SL-5025

TODAY BUY NIFTY AROUND 4961-4973 FOR A TARGET1-4985, TARGET2- 4995 keep SL-4945

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NIFTY SYNTHETIC CHART

NIFTY TREND(MID-TERM) CHART

NIFTY TREND(LONG-TERM) CHART

NIFTY PIVOT TABLE