October 28, 2010

CHART-II
  • 50 Hour moving average and the trend line joined together to pull NF down. 
CHART-I
  • Hour chart with trend line and the 50 hour moving average.
  • The current hour is resisted by both the moving average and the trend line.
  • So if nifty manages to break above it will gather good momentum.
  • But possibilities are NF may face resistance here.

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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore