September 7, 2010

Nifty end of day analysis

CLICK THE CHARTS TO ENLARGE
  • Nifty's weekly chart is yet to give a breakout.
  • daily chart has closed at the resistance line.
  • Stochastic indicator is showing good negative divergence despite the good up move we had yesterday. Same with RSI too.
  • Trading above 5600 would be great news for the bulls.
  • Trading below 5479 will keep the bears happy.

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