May 20, 2010

NIFTY Descending broadening wedge in daily chart

NIFTY DAILY CHART
  • NIFTY descending broadening wedge tomorrow's support area is around 4850-4865
  • The target for the triangle in 5 minutes which broke its support is also coming around 4850.
  • So tomorrow if nifty holds 4850 we may see a rally from this area.
  • Any thing below 4850 is very bearish for the short term.
thank you

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