Weekly NIFTY technicals.

>> Sunday, November 23, 2008

Last week we saw a short covering comming on Friday.

Now see a Gap up on Monday and if NIFTY sustains above 2640 Next target would be 2890 - 2950 in comming month below that we could test 2090 -2010.

NIFTY Moving averages.

5 D

8 D

13 D

20 D

39 D

50 D

200 D

2673

2745

2855

2824

3189

3411

4368



Only a close above 2745 can get a target of 2855 in short term.

See In charts NIFTY bound to touch 2700 before expiry. Dont short any thing before expiry.



The Indian VIX index is 64.46 down 1.6% so I see a upmove of atleat 75 points on Monday.
This week we could see more volatility on NIFTY.

Happy Investing!

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