NIFTY EOD CHART REPORT SEPTEMBER 8

PURELY TECHNICAL VIEW OVER NIFTY 6 MONTH CHART:
SELL,SELL & SELL ONLY BUT ONE SHOULD NOT BLINDLY FOLLOW THAT NIFTY HAS TO CLOSE BELOW 5568 TO INITIATE SHORT POSITION SO 5568 WILL ACT AS SUPPORT IN COMBINED WITH MAJOR SUPPORTIVE LEVEL OF 5492 & 5421 .
UPSIDE IS LIMITED AND NIFTY HITTING THE CEILING OF 5626 (WHICH IS THE IMMEDIATE RESISTANCE) AND FAILING TO CROSS. FRESH SHORTS WILL BE CREATED AROUND 5626 UNTIL NIFTY CONVINCINGLY CLOSES ABOVE 5626...

OPTION DATA INDICATION BULLS GETTING STRONG FOUNDATION AROUND 5500 AND FIGHTING FOR 5600 LEVEL TO MAKE NEW HIGH IN COMING WEEKS ...

OVER ALL FUTURE TRADERS WHO SOLD NIFTY AROUND 5550 LEVEL AND WAITING CAN HOLD AND NEW SHORT SELLING CAN BE DONE AROUND 5626-46 S/L 5675

REGARDS & LOVE
PEARL KUMAR SEP 8 2010