NIFTY CURRENT SCENARIO

The above chart shows Nifty taking support at levels of 9% fall from the recent tops.The bottom 5195 on 20.06.2011 looks as the centre of the fall.A fall of 9% from this level has taken Nifty to 4720 on 26.08.2011.If nifty breaks the second circle on the downside at 4888 levels then it should end this up move.The tangents to this circle shows important dates for change in trend.As per this 9% fall if we break 4720 we get a target of 4300 level.Also watch the move on the break of the second circle on the upside it was vicious.Will it be vicious same way on the downside.This area seems to be the area of faster retracement so let be cautious.This is just an observation we need to watch the actual move.Also tommorow seems to be an important date as per Seasons on Nifty(as given in my earlier article) which states 

7) September 23rd is 93 days from June 22nd, but the Earth or Sun have only travelled 90 degrees.The Sun crosses the Equator at this time and is 180 degrees or opposite the point where it crossed the Equator on March 21st. Fall begins at this date and stocks make important change of trend.

Happy Trading!