"WEEKLY REPORT FOR 8-12 FEBRUARY, 2010"

As indicated in last week's report, Nifty got a support at the level of 4680 (nifty future touched a low of 4687) and back over 4700 on the last trading day (Friday the 5th Feb). It made 4757 on 6th February as there was a special trading session from 11A.M. to 12.30 P.M. on the back of a testing of upgraded trading system.

Finally very high open interest builtup in 5000 CE Feb seires as expected. It symbols 5000 calls are strongly written by call writers which indicates that option writers for the time being considering 5000 as strong resistance point.

Hope you all got the point..........

Now we could see the major support base around the level of 4650.

Nifty Spot Weekly Range : 4660-4885

UPTREND: Immediate Resistance for Nifty lies at 4840, if breakout this level then we expect to 4885 and 4950.

DOWNTREND: On the contrary, Market has Support at 4650 and break down could take it to 4550 and 4480 levels.



IS IT A MAGIC ?? OR HISTORY REPEATS ITSELF ????






The above chart is for Nifty Weekly Charts and have marked 1 to 8 in Red for the Downside from Highs made in Jan-08 to the lows of Oct-08.

Second projection is 8 to 1 marked in Green for Upmove from Mar-09 till now.

All the Importand Support lines of Downside interestingly now turning to be the Resistances, and vice versa.

All the points from 1-8 of Downside has been Mirrored Exactly in 8-2 levels in reverse upside !!!!

Will History repeat itself in making 1 last leg also ??????????? Pink Arrows on the extreme right of the Chart projects an unbelievable upside at an unimaginable pace !!!!!!!!!!!!!!!!

Give a small thought on the same.