Nifty on the weekly basis closed at 4327.45 below the previous close of 4430.70. In the current week, Nifty made a high of 4447.4 and and a low of 4248.00. The levels were mentioned in my previous blogs. Breakout in either direction will we very fast. Watch out for the same levels. Crude prices raised to make a high of 122$, but again cooled down at 114$. Nifty on the weekly chart has taken good support at the trendline. On the daily chart Nifty closed above the 50DMA. Till the time Nifty close is not above 4440, buying should be avoided. Friday, August 22, 2008
==>> Nifty chart 22/08/08
Nifty on the weekly basis closed at 4327.45 below the previous close of 4430.70. In the current week, Nifty made a high of 4447.4 and and a low of 4248.00. The levels were mentioned in my previous blogs. Breakout in either direction will we very fast. Watch out for the same levels. Crude prices raised to make a high of 122$, but again cooled down at 114$. Nifty on the weekly chart has taken good support at the trendline. On the daily chart Nifty closed above the 50DMA. Till the time Nifty close is not above 4440, buying should be avoided. 
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