SHORT TERM NIFTY VIEW

FROM NOV 2010 NIFTY IS MOVING IN A CHANEL AND FROM LOWER BAND NIFTY HAS ALWAYS TEAKEN BOUNCE BACK AGAIN FROM 4728 NIFTY BOUNCED BACK AND IF ONCE IT ABLE TO SUSTAIN ABOBE 5150 THEN NIFTY ABLE TO REACH AT 5229 AND 5340 . IF I TAKE FIBONACCI RETRECEMENT FROM 5740 TO 4720 THEN I ANALYSE THAT 5229 IS MAJOR RESISTENCE ZONE IF ONCE NIFTY ABLE TO CLOSE ABOVE 5229 THEN NEXT LAVEL WILL BE 5349 AND 5498 IN VERY SHORT TERM .

Regards
Raju Ranjan
9975606284