In a short tern chart, NIFTY was moving in a rising channel from 17 March 2010. The corresponding value at top trend line, with the current dynamics lies at around 5410. Next week, in the first half, I expect NIFTY to move towards this level at “ TT” and then start its drop towards 5121 or below. . At the moment, it does not look like possessing energy to breach 5500 level. Of course, Market can change its dynamics at any time. The next support levels in the near term are at 5217, 5008 and 4750 and the nearest resistance is at 5410-25.
www.ftalarms.com has so far, through its 2000 NN system, given Rs. 20000 profit since the last LONG signal (in just 30 trading days) . All the NIFTY signals are in Bullish mode at the moment.
