May 25, 2010

NIFTY technical analysis for 24-05-2010

NIFTY DAY - I
NIFTY DAY - II
NIFTY DAY - III
  • THE DESCENDING BROADENING WEDGE IS STILL INTACT.
  • WE CAN ALSO SEE A FALLING WEDGE DEVELOPING.
  • LAST WEEK'S LOW IS AT 4842. IF WE GO  BELOW THIS NIFTY CAN GO TILL 4825 FOR TODAY. I THINK NIFTY MAY NOT GO BELOW 4842 TODAY.
  • WE ARE TRADING BELOW 200 DAY MOVING AVERAGE FOR THE FIRST TIME SINCE 2009.
  • BUT THE BEARISH CROSSOVER OF 20 DAY MA BELOW THE 200 DAY MA IS YET TO HAPPEN.
thank you

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