Friday, November 6, 2009

Nifty 4800 Battlezone

There are some price levels in Index's where there is no direction for days. It is at these levels that the index spends good amount of time as the battle drags on between bulls and bears.

In last few months the levels of 4800 and 5000 has been the major battle zones.

Nifty spend 6 days at 4800 levels in Oct, then 2 days in Nov while going down and now today it again closed at 4800 levels bouncing of from lows.

Same ways Nifty spend 11 days at 5000 levels in Sep/Oct and 3 days in Oct while moving down.

These battlezone levels acts as magnets where the index gets pulled back there again and again.  The breakouts are generally large directional candles.

Worth noting is the time spend at these levels.

Lets see how much time nifty spends at 4800 levels this time.


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