08 Nov 2011:HANGING ON TENTERHOOKS

Hi guys good morning during the week end i tried to make a web in long term charts...i have made diamonds in above chart those will give u clear idea on resistances supports and targets...as per them nifty will find it difficult to cross 5475 area and in coming days/weeks that should be the zone to go full short...
the above chart is daily chart and it indicates that below 5260 we should again test 5200 levels and then a couple of range bound sessions in this zone....
The above chart is weekly chart a close below 5250 on any trading day of next week will indicate that we are going down or sideways...so short calls if we close below 5250 on any day...

Tuesday,s Polugram ( All actions must be taken with appropriate HRY)
LEVEL	ACTION	SL
5300 or above	SHORT	SL 5327
5185	COVER
5220	SHORT	can not be fixed beforehand
5150	COVER + LONG	SL 5148/5145
All are tantative levels
One can fine tune them according
maiya's move seeing over, tick chart
Last action's Target is Minimum 140 points up from the low

Please take care of opening ( Gaps will cause cancellation of action/actions
accordingly)
NB: The above projections are based on the Hypothesis that from 5326
maiya has been doing a ^C^ of a 4th of which the tantative target is 5150
out of this ^C^ maiya is about to complete its 1st at 5260 level
which works out 5326-5260=66/70		( did 5257 already as 3rd sw)
while doing projections of Complete ^C^ it comes to 175
But because under this label this can't go below 5148
hence Target is set to 5150

good luck guys..