ON 18th NOV 2010 - WAIT AND PLAY

MARKET REVERSED FORM THE DOUBLE TOP AT 6349 - 6347 LEVELS IT CAME TO THE BOTTOM 5975 ON CHINA NEWS ON TUESDAY. 

NOW IT IS IN CLEAR DOUBLE BOTTOM LEVELS OF 5975 SO WE EXPECT THE JUMP FORM THIS DOUBLE BOTTOM TECHNICALLY. BUT IT IS NEWS BASED MARKET MAY BE GO TO DOWN SIDE ALSO.

IF IT DIPS IT MAY BE A HEAD AND SHOULDER PATTERN THE NECKLINE IS 5975 SO FORM THE TOP TO THIS NECKLINE 370 POINTS MAY BE DOWN FORM THIS BOTTOM SO MARKET MAY BE CAME TO 5600 LEVELS.

IF MARKET GO DOWN SIDE TODAY MAY BE A CHOPPY MARKET MAY BE IN GREEN I THINK. THE FULL FALL CAME ONLY ON FRIDAY.

IF MARKET UP FORM THIS BOTTOM IT MIGHT BE AN NEW HIGH I THINK

STRONG SUPPORT FOR OUR MARKET AT 5974 LEVELS IF IT BREACHED THEN  MARKET MAY  MOVES  DOWN TO 5959 - 5937 LEVELS TODAY.


HEAVY RESISTENCE TO OUR MARKET AT 6045 LEVELS IF IT BREACHED THEN IT  MAY GOES  TO THE DIRECTION OF 6082 - 6110 LEVELS TODAY.

ANY WAY THE PHYSICOLOGICAL POINT OF  6000 IS A CRUCIAL POINT AND TURNING POINT TODAY. IF IT IS BREACHED DOWNSIDE THEN IT MAY GO DOWN OR ABOVE THIS MARKETS MAY GO UPSIDE.

RECOMMANDATION FOR TODAY :  

BUY NIFTY FUTURE AT 6045  S.L. 6000 TARGETS ARE  6086, 6110. 

SELL NIFTY FUTURE AT 6000 S.L OF 6045  TARGETS ARE  5975, 5959.