Above daily charts show the various combinations of the fibonacci retracements on the spot nifty.First chart shows we have made a significant at today's low at an fibo support.Second chart shows we have some supports at 4610-4541-4485-4429.Third chart(most preferred view) shows we have supports at 4591 and below it 4453.Money Flow Index show an near about level of earlier lows.Avoid bottom fishing as we have closed below the earlier low.
Spot Nifty levels for intra-day trade on 24.11.2011No trade between 4689 and 4724(to avoid whipsaws)
Buy above 4724 with SL of 4714 for targets of 4741-4758-4775-4793
Sell below 4689 with SL of 4709 for targets of 4672-4655-4638-4621
Happy Trading !
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