Monday, June 10, 2013

Nifty Resting on Monthly Pivot of 5855, Nifty week 24rth

Nifty behaved very much in line of our expectation
Nifty developed Head and Shoulder in full
Touched our target of 5853 (today's low was 5857.40)

Nifty future movement:
Nifty will take time before moving below 5855, if it move sharply below this level, presume this as strong resistance immediately. Channel movement would be very frustrating connecting 6229 and 6133 and 5857 and 5937

Nifty will change direction above monthly pivot 6045

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