Dated :- 12.01.2014 (SUNDAY)

                                                         NIFTY  Spot :   6171.45

Hi,

Readers,

  

Nifty moved exactly as was mentioned in my previous blog dated Jan. 05, 2014.

It was mentioned that the trend is down.

Nifty will be inclined to come down.

It was also mentioned that on higher side 6420 level will not break. Because there were many technical reasons for that.

And readers must have noted that Nifty made high of 6358 and came down sharply from there.

This indicates that the technical analysis have a definite depth.

It was also mentioned that Nifty’s down move in first half of the week will once again make Nifty oversold and will force Nifty to rebound from that level.

And it was also mentioned that any rebound up to 6250 and 6280 will be an opportunity to SELL.

Nifty fulfilled every thing mentioned in the blog.

Nifty went down in first four days of the week.

On Friday Nifty rebounded to 6240 (which was mentioned in my blog as selling opportunity). From there Nifty fell 80 points with in 75 minutes and made a low of 6162.

I hope readers would have enjoyed the profits.

NOW WHAT :-

Now Nifty has resistance at 6265 – 6360 & 6420.

Nifty has still not given breakdown of 6150 which I have been constantly mentioning in my earlier blogs.

Below 6150 Nifty’s structure will be more week.

Timely profit booking regularly is must. Because these trading ranges sometimes can be very surprising also.

Enjoy the profits.