Monday, May 19, 2008

nifty future weeky (19-23 may) report

nifty intermedate momentam upward..curretnly trading on 2-3 up wave on hourly scale. need 3-4 wave consolidation the 4-5 upward to complte wave cycle..

NIFTY FUTURE NEXT WEEK--PIVOT , LOWER TARGET AND UPER TARGET VALID ONLY FOR CURRENT WEEK ONLY ---------------------
UPWAVE(4-5) UT3 : --5,373
UPWAVE(2-3) UT2 : --5,315
UPWAVE(0-1) UT1: --5,222
UT=UPER TARGET
++++(5,165) PRICE IS BULLISH ABOVE WEEKLY PIVOT POINT--------

----(5,128.17) PRICE IS BEARISH BELOW WEEKLY PIVOT POINT
LT=LOWER TARGET
DOWN WAVE(0-1) LT1 : ---5,070 (target achived)
DOWN WAVE(2-3) LT2 : : ---4,977
DOWN WAVE(4-5) LT3 : ---4,919