January 22, 2009

Nifty EOD Chart 22-01-09

This is for education purpose only and may not be useful for trading

Daily charts: 2 day swing in sell mode SL 2800.
Markets remain rangebound between 2700 and 2850 for 9 days. A breakout is expected. Direction unknown. Targets: 2550 or 3000.
Weekly charts: Last weeks' bullish hammer has been fully retraced.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

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