Nifty Future for 07-03-2011.

Today's volatility showing this above picture, and after completion of this "C" , NF can move upward for final top.
My final top target was little bit higher, that was 5746 to 5820-5840.
But after today's move, had to calculate again with new data( top can be 5646- 5670/5676).
Today NF breached most valuable line, which is always used for advance reversal signal in past and always.

So now , I am thinking that can NF break this up side Chanel resistance ( Red Chanel in 2nd chart), Last month also bounce back from this Chanel resistance also.
Now this Chanel resistance is at 5670-5676.

And before this Chanel resistance, there is another resistance also at 5640 also.

If NF can sustain above 5676, then only can think about new targets.

So any way, to test these all above resistances, NF will have to cross 200 day ema which is at now 5605.
So now if NF can go above its 200 day ema, which is now at 5605, and after that from any above level NF starts falling and cross down below 200 day ema, then can think NF start down trend.

So be alert always, because we are near to top (short term).


Will post again..









All levels and targets are for my own trading purpose, others can take it as a educational purpose.