Wednesday, March 21, 2007

Nifty about to begin wc/w3 type move

3800+ breakout begins
might be a fake upmove but probably best to stick with longs 3840-3900-3930 target
right now 13 ema support 3720
21 ema res 3775
2 important levels to watch for for next few days.

Earlier triangle broke down and we did 3570 target to downside.
Now we can get a wc/w3 type breakout which can do my old target of 3900
which is 50% retracement of entire fall.
If you wanna be a mega bear then 3800-3840 are your key resistances.
If a mild bear then 3900
if a mega bull then a new high is always possible :)

Panic selling below 200 dma which reads 3570 ish

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