Nifty Daily Analysis

• The main trend line in weekly chart from Feb 2009 was violated for sometime but price managed to comeback and close above it.
• Things may turn negative only if the support line drawn in the last chart gets violated.
• Last day of the previous week was a green day and the up move if continues can go till the resisting trend line in daily chart. any bigger up move will happen only if price manages to break the resistance line.
• Fibonacci levels drawn from main support of 5348 to the high of 6335 is showing support for price near 61.8%.
• STATE BANK OF INDIA CHART ANALYSIS