NIFTY heading twords 5200?

Dear friends, as I posted in earlier post that Nifty may touch 5216, and now I have no doubt about that (lets pray won't make me fool), see the channel (see the picture drawn with white line) , instead of basing 5200 I think more pain is awaiting ahead. See the picture drawn with blue line.

Bank of India has broken vital area of 261on intraday basis.

Hi friends, hope you all enjoying NIFTY short as I posted earlier, currently Nifty spot trading bellow 5300 (now 5296 1:19 IST) and now friends another news for you, as per daily chart BANKINDIA has gone, it breached a very good demand level 261 on intraday basis. As per weekly chart there is a gap @ 250.95 but hope it will found it's first demand zone around 227-242 and then second demand zone around 178-198 (both are weekly basis). As I told on yesterday's post that Nifty and MACD are now in negative divergence, I hope more pain awaiting for the market. So friends, be cautious of BANKINDIA.

NIFTY: Preparing for big down?

Hi friends, hope you all enjoy NIFTY falling. previous post I stated Nifty and RSI made negative divergence and it falling down, now MACD also formed negative divergence. Ans so I hope market may stay in downwards for little more time. May be 5215 is the next level.