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Monday, June 7, 2010

Trading Strategy - Nifty Future - 7th June ‘10

On Friday written it can zoom upto 5110-5137 level.

Just see it kissed 5135 & closed at 5120 level.

Now on Friday US Market crashed  ow was down by 323 ,Nasdaq Composite was down 83 points and S&P 500 closed 38 points down.
Now ,What to calculate and what to write ……………..????

A Complete correction from 4933 to 5135 ?

-Below 5073 ,My Support levels at 5035—-5023 level.

-Gap @ 5019 to be filled.

Suppose breaks 5019 level with volumes then expect 4985-4973 level.

Remember Gap of 5019

Watch TRENDLINE support at 5020.

Today it will form a classic formation of ISLAND Reversal………once it opens below 5050 level.

-Then not Today ,but can see NF kissing recent low of 4933 level.

N
ow ,Suppose takes U-turn from 5020-5015 or 4985-4973 level then?