Morning Mantra ---- Nifty Future

The candles travel towards the middle band to form an intermediate rally. Third and most important step, the fall continuous but this time cutting the previous low. It’s important to notice the second bear and new low phase ends above the lower band without cutting the lower band which indicates that the stock is less weak.

   Good Morning and Happy Trading.

Yesterday:

(i)                           Before opening told about 5321, at opening low was 5322.

(ii)                         At 10:26 am written about hurdle 5353 NF made high 5352.

(iii)                       At NF updates written below 5325 next support is 5314. NF made low 5312.

Today’s 1^st resistance is 5342 to 5345. If NF able to breach this level with volume then next tough hurdle zone is 5348—5351—5353/54. We may witness 5436 / 39 –5476/79 levels very soon.

Today’s 1^st support is 5302. Below this level 5268 / 67 to 5265 / 5263 will be vital supports.

D’t panic at lower level.

A sharp mild up trend is waiting (above 5369).

More reversal points for our subscribers only.

Kolkata, 06:45 AM 07.12.2012