Sunday, January 29, 2012

Weekly Nifty chart is showing that nifty closed below a fib level 5223 ..and daily below 200 DMA

Weekly Nifty chart  is showing that nifty closed below a fib level 5223 ..down side level is 4921 and up side resistance is 5435 as per Fib ratio
Nifty closed below 200 DMA  making hanging man reversal candle on EOD chart
Bank Nifty already showing  that bulls are feeling tired here ....
http://dhanvarshagrp.blogspot.com/2012/01/bank-nifty-is-trading-at-crucial-line.html
realty index confirmed reversal signal ...
Technically market is overbought... a healthy correction is due.. be alerted and be ready to exit from your long positions if weakness will be there...4931 is nearest support as per fib ratios ...

Markets may see profit-booking this week after Jan rally: Experts  http://economictimes.indiatimes.com/markets/analysis/markets-may-see-profit-booking-this-week-after-jan-rally-experts/articleshow/11672165.cms  

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