Nifty on Track as recomended on 8th June

Hi,

Lot of you would be wondering how come we gave a prediction of bottom formation at 5180 once 5304 is broken... the answer is very simple charts.

Over a period of time i have learn that charts are formed once the movement is clear but Fibonacci is the ONLY method which gives direction to the chart and tells us what the chart will do and how it will be formed.

In Simple words Fibonacci is like a fortune teller for the numbers. Hence mastering this strategy to certain extent; i had found some learning whereby I could see a double bottom formation happening at 5180 level for NIFTY and hence I had given a specific date of 16th June as well for a support to watch and the same was tested but no visible support was seen and hence today NIFTY had a INTRADAY low of 5182. 

Thus, the finding of “Fundamental challenge for the Month of June '11” was a great success.

Now remember one thing Nifty has made a weekly low of 5182 and the same should not be broken this week on closing basis or ELSE 4900 for NIFTY will come for sure.

On Upside Nifty expiry should be above 5360.

Watch out for this space for the next big thing ...FY12 Q1 expectation are just round the corner and stay tuned for the Learn n Earn series calls.

Regards

J2k.