NIFTY Technical analysis for 20th april 2010

NIFTY DAY CHART - 1

NIFTY DAY CHART - 2

NIFTY DAY CHART - 3

• One look at the line chart shows 5200 as good support on a closing basis.
• nifty has turned up arresting the fall for now. 
• A close below 5200 is danger for the bulls
• Channel redrawn after todays price action should save the bulls.
• But as the MACD in the last chart shows bears still have the upper hand. and when nifty goes below 5180 they will gain more strength.

NIFTY 15 Minutes triangle break out

CHART UPDATED

TRIANGLE BREAK OUT

• We have a triangle break out
• But have stiff resistance 5260 and 5305
• trade accordingly 

thank you