October 15, 2010

Nifty Futures intraday post

HOUR CHART - II
  • Price is trading close to the trend line, one can expect a bounce from here or a breakdown of the trend line may also happen.
HOUR CHART - I
DAILY CHART
  • Hour chart is showing a potential ascending triangle. Break of the trend line will be crucial. But has good support around 6090 levels.
  • Daily chart is updated with yesterday's dark cloud cover pattern. Break of 6090 and  6078 will ensure the patterns effectiveness. we can see big correction if 6078 breaks. Till then bulls are safe

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