Monday, July 20, 2009

UPTREND TO CONTINUE

With positive global cues, we have been able to overcome all resistances and able to close over 4382 which is a strong bullish signal. We are now entering resistance zone in the range 4450-4480-4530. Today's pivot is NF 4342-4346 with first resistance in range 4421-4435 and then 4460-4482. Buying at higher levels should be avoided as with today's move we will again be in overbought zone in hourly charts and can see reaction tomorrow. TREND IS UP AS LONG AS WE TRADE OVER 4310