Friday, January 7, 2011

Nifty Weekly Chart

Nifty has formed a bearish engulfing pattern on weekly scale indicating further fall, last time when same pattern was formed in November nifty fell more than 350 points after that.

3 comments:

  1. so long waited 5550 will come?? when this bearish engulfing will get negated?? what is the level?

    thanks n advance and happy week end

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  2. GRT QUESTN CAN I BUY 5500 PUT ON MONDAY...RLY REPLY

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  3. Hi sujatha i dont know if we could predict targets with candle stick pattern.........but yes one thing is for sure that market is bearish at this point in time.........also before 5550 we have good support at 5700 and then at 5600.

    hi subho,

    i think market would see some bounce back on monday.............one more advice one should avoid buying OTM options.

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