TRADE SHEET

Nifty.....R...6258/6280/6301....S......6226/6215/6208/6190

Yesterday Nifty opened with huge gap up and resisted exactly at weekly R2-which is mentioned in INTRADAY UPDATE-with addition in 6400 CE. Option table clearly shows resistance at 6400. Let's see whether nifty attempts again to cross earlier high (6343),if closed above that point then may add another 100/150 points. 50% retrace of last rally (6150 to 6301)was done yesterday itself.Now we have to watch whether it goes towards 61% or stops here.
Nifty has given negative close on monthly basia. At the same time last week close in line with monthly - sell on rise -.In both time frame close of NIFTY is below HIGH EMA .On Wednesday NIFTY closed below DAY HIGH EMA as well as below 5 EMA. So day trend also joined hands with WEEKLY and MONTHLY signals.But Yesterday NIFTY closed above DAY HIGH EMA as well as above 5 DAY EMA. So now DAY signals BUY ON DIPS, WEEKLY and MONTHLY signal still remains as SELL ON RISE. Today as it's a weekly close we have to see whether it close above current WEEKLY HIGH EMA which is at 6232 to join hands with latest day signal.