April 20, 2010

NIFTY Technical analysis for 20th april 2010

NIFTY DAY CHART - 1
NIFTY DAY CHART - 2
NIFTY DAY CHART - 3
  • One look at the line chart shows 5200 as good support on a closing basis.
  • nifty has turned up arresting the fall for now. 
  • A close below 5200 is danger for the bulls
  • Channel redrawn after todays price action should save the bulls.
  • But as the MACD in the last chart shows bears still have the upper hand. and when nifty goes below 5180 they will gain more strength.

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