July 7, 2010

Nifty daily chart analysis

DAILY CHART
DAILY CHART FLAG FORMATION
  • Nifty made a good closing yesterday after breaking the resistance.
  • The index is also showing a flag formation which points to bullishness. 
  • But the major hurdle for the index will be 5310-5330 on closing basis. closing above this will be very positive for nifty to go above 5400.
  • Break below 5225 will invalidate all bullish moves and on a close below 5225 one can go short.
  • CLICK HERE TO SEE HOW NIFTY FUTURES BROKE ITS RESISTANCE LINE YESTERDAY
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1 comment:

  1. SanJuly 7, 2010 at 8:00 AM

    @karthikeyan
    Reliance communication is updated. Stock did not sustain near 207 levels and profit booking followed. Weekly closing was also negative. I have given the link below.

    http://niftychartsandpatterns.blogspot.com/2010/07/nifty-daily-chart-analysis_07.html

    ReplyDelete

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