Nifty
Chart Take
Short term RSI of nifty has broken a double top formation base.
However fibonacci confluence zones are quite nearby.
Friday low of nifty of 4972 will act as strong support for nifty.
If nifty trades below 4972 with volumes , it could get knocked down to 4930, 4905 and 4885.
On the upper side, 5025 will act as trend decider. Trading above 5025 with volumes,
nifty will move to 5060, 5090 and 5115.
Trading the Bank Nifty
Useful links :
Gold view updated : http://jerrytechnicals.blogspot.com/2009/12/gold-views-mcx-india_20.html
Nifty weekly outlook : http://jerrytechnicals.blogspot.com/2009/12/nifty-weekly-outlook-21-december-till.html
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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