==>> Two important pattern made in Nifty and Sensex both

Yesterday Nifty opened at 4680. Inflation for the week was high as compared to the last weeks. But still the Nifty rallied till 4746. There was no reason for this rally. Finally Nifty closed below at 4627 after making a low of 4614. Nifty had a good support at 4600. But today immediately after opening, Nifty slided below 4600 levels.In the Nifty chart 20DMA cuts the 50DMA from up to down. But In the sensex pattern its still time. On 29th May also i have clearly mentioned that till the Nifty closes above 4900 "NO TEJI". and the Nifty tgt is 4440. ALL THE TARGETS HAVE BEEN ACHIEVED.........

Today we saw gap down opening of 450 points in Sensex. Nifty opened at 4626. Nifty plunged till 4411 to close at 4500. Sensex closed at 15128. Nifty made a new low since Jan 2008. Previous low was 4448.5. But Sensex is yet to make a new low. Previous low was 14677. Sensex low for the day was 14846. Both Nifty and Sensex have touched the over bought zone.

VERY IMPORTANT POINT.

In the Nifty chart "Hammer" pattern is been made. But that could not be a proper pattern. The close should be +ve for the confirmation of the pattern. Tommorrow we will find some pull back. As mentioned earlier that the Nifty is finding resisitance at 4536 levels. Sensex chart shows a very rare & a positive pattern, but the pattern is still in the making. In the Japnesse Candle stick, its called a "Abandoned baby". The confirmation will come only tommorrow ia a positive gap up opening and close should be above the 15202.

Crude rose to all time high on the back of short covering and the problems going between Iran & Iraq. Real Estate scripts were the favourites of eveyone in 2007. In the 1st or the 2nd month of 2008, i have clearly mentioned that the Real Estate stocks will be the worst performer in 2008.

VIEWERS CAN THEMSELF SEE THE PRICES OF THE STOCKS. They have been treated badly in the stock market. I have also mentioned that the IT sector will be limelight, and its a right time to buy. Viewers can see the price movement of the stocks from there..

Check for the support and resistance levels of both Sensex and Nifty. I am not trying to be Bullish till now, but the pattern shows there can be some hault. Nifty support at4440, close below this can take Nifty till 4200. Rest at 4536-4650.

Sensex support at 15000 - 14700. Rest at 15300-15610.