October 15, 2010

Nifty daily analysis

  • Nifty is in the process of making an ascending broadening wedge or an upward tilted megaphone. 
  • At some point price may come down to the support line of the drawn pattern. Especially if the current correction from 6284 continues.
  • The up move that happened above the range has turned out to be a false one. But this may be an attempt to shake out the weak bulls. So if key levels like 6073 holds another attempt to move up may happen.
  • NIFTY FUTURES UPDATE

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