NIFTY Views - for 20th July 2012:

Nifty played To & Fro in R2 & R1 Pivot point.

As told yesterday- 60 min chart gave Bullish Divergences + Bollinger band turns Up (Big Money is buying, confirmation will come within 2 days).

Nifty kept whole day above 5236 (stated Yesterday)

 

Only 1 Good trading opportunity today:

 

In Monthly Time Frame:  Down Trend

In Weekly Time Frame:   Up Trend   with   Gap Partially Filled of 5150 ~ 5189

In Daily Time Frame:

RSI              -  Took support at 40- First Sign of Bullishness

Bollinger       -  Consolidation

In 60 min Time frame:

RSI              -  Bullish Divergence

Bollinger       -  Up trend

 

BUY:  Above 5245 , TGT 5267,  SL 5229.

SELL: Short if doesn't sustain above 5236 !! Can touch again 5190.