July 19, 2010

Nifty technical analysis

NIFTY DAILY VIEW
NIFTY DAILY VIEW
NIFTY WEEKLY VIEW
  • Nifty daily chart is showing a clear raising wedge which is a bearish pattern.
  • Break and close below the trend line would result in good correction. The week trend line will also break in such  a situation. 
  • The volatility may increase today because of the way the U.S. Markets ended on Friday, But bulls would be hoping that the trend line and the support line daily chart holds at least on closing basis.

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