Nifty 18-01-2006. after the morning crack nifty took good support at 2785 region.
(click on image to enlarge)
We have a clear down channel in place and todays low could just act as an intermitent halt in the larger down move t0 2720.
2830 region (Blue line) would act as strong resistance to any upmove & Nifty>2830 would mean the correction is over.
Someone who was aware of the channel could have used the channel crack to to short in early trades.(look at the earlier post)

Crack of 2785 would again open lower targets for nifty.
Use the channels and resistances as your guide.....
Larger trend remain Up till 2720.

Thought of the day.
"The more you understand the concept you are trading, how it might behave under all sorts of market conditions, the less historical testing you need to do." Tom Basso
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