Tuesday, July 21, 2009

STRONG RESISTANCE ZONE

Final resistance of this wave is NS 4540-4550 and if closes over this then it will target previous high. However, today nifty is likely to remain subdued as we are overbought in hourly charts. Pivot for today is NF 4478-4480 with resistance 4541-4571; below 4473 it can take support in the range 4449-4438 ; 4385-4367. Daily charts are still positive