==>> As mentioned "NO TEJI" till close above 4910

The viewers of this blog would be feeling lucky that they were well informed about the correction phase in the markets. Again and again they were informed about the fall. I had given the target of 4750 Nifty spot and the same was acheived today. Viewers can see in the chart, that in the last 2 days the Nifty close was below the long term trendline and i kept on telling that it can be fatal. We saw Nifty plunging down till 4700 before closing at 4715.30. Nifty opened in the positive zone. As i have mentioned that the Nifty has a very good resistance at 4910 and "NO TEJI" signal is seen till the time the close is above 4910. Last 2 days Nifty faced resistance at the same level. And within few minutes of trading hours we saw Nifty sliding in the negative zone.

In the morning note, i have mentioned that the Nifty is facing resistance at 50 DMA. On Friday morning i have clearly mentioned that the traders should not taken any long position in the market. Nifty target is 4670. Rest at 4910.