Monday, March 2, 2009

NIFTY Outlook for 3rd March 2009

NIFTY failed to rise as expected. The nearest support is at 2635 which happens to be the 180 degree line. Please note that I have re-anchored the grid to start from a high (which is probably what I should have done anyway for last Friday's chart).

If 2635 fails to hold, then we could be looking at targets of 2552 and 2388 though not in a single day.

Possible Upside Target : 2,804.63
Possible Downside Target: 2,634.57

Bullish Above 2,696
Bearish Below 2,653

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