1.

according to gann theory also there are trend reversals in between the dates 1/9/08 to 10/9/08

and there after 8/10/08 to 15/10/08.

2.

a view of the fibonacci levels.

VIEWS FOR 5/09/08

SHORT NIFTY CMP :4447 TGT 3850 IN 8 - 10 TRADING SESSIONS SL 4585 ON CLOSING BASIS.

AS SHOWN IN THE NIFTY CHART TAKEN INTO THE CONSIDERATION THE PERIOD FROM 17/07/08 TILL DATE IT MAY BE FORMING A HEAD AND SHOULDER PATTERN.

AS POINTS A,B& C FORMING THE LEFT SHOULDER THE POINT D THE HEAD AND E,F AND IF THE PATTEN IS TO BE COMPLETED A POSSIBLE G POINT HAS TO BE FORMED AT THE LEVELS NEAR TO 3850 ODD LEVELS.

THE RSI INDICATORS ARE ALSO FORMING THE SIMILAR PATTERNS .

THE LEVELS TO WATCH ARE

POINT A:3823 RSI:38.98

POINT B:4540 RSI:54.50

POINT C:4191 RSI:46.70

POINT D:4650 RSI:58

POINT E:4202 RSI:44.22

POINT F:4522 RSI:54.70

POINT G:3850 ?

RSI G: 35-39 ?

ONLY TIME WILL TELL.

IT TOOK ABOUT 8 TO 10 TRADING SESSIONS FOR NIFTY TO REACH FROM POINT A TO POINT B NOW VICE VERSA THE CHARTS WILL IT SIMILARLY TAKE THAT MUCH TIME FROM POINT F TO G ?

(THIS VIEW WILL BE NEGLIGEBLE ON THE CLOSING ABOVE 4585)