nifty extension targets here are 4270 - 4173 - 4050. the AMA(ADAPTIVE MOVING AVERAGE)may lend nifty support in the zone of 4400 from where a bounce back to 4539-4630 will still be the swing targets of the rally back. the DTI (DIRECTIONAL TREND INDEX)as you will see still has a positive bias, DTI had signelled a trend reversal at the bottom and now when the AMA(turns red) & DTI cross over downwards , all longs should be exited from as reversal of the upmove of last 5 weeks will start ...buy in dips till the trend is up ,,,cheers and happy trading.Sunday, August 17, 2008
DAILY TECHNICALS for 18th
nifty extension targets here are 4270 - 4173 - 4050. the AMA(ADAPTIVE MOVING AVERAGE)may lend nifty support in the zone of 4400 from where a bounce back to 4539-4630 will still be the swing targets of the rally back. the DTI (DIRECTIONAL TREND INDEX)as you will see still has a positive bias, DTI had signelled a trend reversal at the bottom and now when the AMA(turns red) & DTI cross over downwards , all longs should be exited from as reversal of the upmove of last 5 weeks will start ...buy in dips till the trend is up ,,,cheers and happy trading.
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