Friday, November 7, 2008

TECHNICAL OVERVIEW

Market doing a YO-YO makes a trader wonder as to where is it going. Posted above is the chart with strong support at NS 2250 which is difficult to break (Green line) and medium term resistance at 3240 (Blue line). It can consolidate here before making a big move. Again for this wave, the Zone 2778-2631 should provide a support.
For today, NF 2921 -2937 is the pivotal range with support at NF 2838-2740. Bullish only over NF 2979.