Sunday, May 23, 2010


• Last swing high is at 4980. (Lower high)
• Last swing low is at 4908. (Lower low)
• In the medium term,
--- Nifty is again in down trend (from 17th May) with targets of 4930**, 4860**, 4810.
--- The down trend will ‘terminate’ above 5213.
• In the short term,
--- Nifty is again in down trend (from 19th May) with targets 4920**, 4880**, 4840**.
---The down trend will terminate above 4980.
Above 4980, Nifty will be in corrective up move with targets of 4990, 5040, 5090.

(Targets are +/- 20 points, ** means target achieved)

• Nifty traded in big range of 105 points between 4842 and 4947. (Range expansion).
• Swing high of 4980 formed now which is lower then previous swing high of 5105.
• Long lower shadow formed today which is bullish.

--I have decided to make certain changes in my E-mail service.
--If you wish to take trial of the E-mail service in new format for next few days then send me your E-mail ID to