Monday, July 27, 2009

NIFTY Outlook for 28th July 2009


We're at an interesting point with regards to most markets, NIFTY being no exception. Note from the chart that we are exactly at the mid-point to the nearest time line. My experience shows that this point in time could potentially be a turning point. The fact that NIFTY has formed a doji at this very juncture could be a little ominous. Could we see the beginning of a pullback on Tuesday?

Projected High: 4,618.6504 (46.3506 points)
Projected Low: 4,550.4004 (21.8994 points)

Bullish above 4,591
Bearish below 4,553

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