1)5 EMA Weeky – Provides a Fresh Buy Signal with supports at 4912
2)5 EMA(High-Low) Daily – Buy signal retains with first support zone at 4975 and
second support zone at 4875
3)5 EMA(High-Low) Weekly – Indicates instant resistance zone at 5005. Weakness will prevail
if nifty is not able to cross above these levels for this week
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4)Long Term GANN Support Broken with a fresh buy signal with supports near 4854 zone
5)High O.I in 4600PE,4700PE,4800PE,4900PE Suggests Puts are written
6)Elliot Wave – Still Pointing to Bearish Views
7)Still NMA Weekly is bearish since 30th OCT 2009 retains sell signal
8)Still NMA Daily is Bullish and maintains buy signal 9th NOV 2009
Overall 4860 levels could act as a support zone failure will induce more bearishness
as stil most of the strategies are point to bearish indications one should keep 4860
as Stop loss for their longs
