August 12, 2010

Nifty daily chart analysis

NIFTY FUTURES 4 HOUR CHART
  • Nifty may test the 5350 support region this week.
  • Nifty closed near the low of the day. The index has also closed below its 20 DAY SMA. It has also closed below 5 DAY H.EMA.
  • Looking at the global scenario nifty may get a gap down today. That means selling will continue. Break of 5350 and a weekly close below this region will be very bearish for the short term.
  • Nifty future chart is also indicating a test of 5350 region.
  • DOW JONES ANALYSIS AFTER CLOSING BELL

No comments:

Post a Comment