April 28, 2010

NIFTY DAILY CHART
  • NIFTY showed weekness after 5 days of closing in the green
  • NIFTY has formed a triangle like formation in day chart. And it looks like it will break down towards lower levels
  • momentum indicator has been showing weakness for the last two days.
  • NIFTY may get support at 5200-5240 region.

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My Favourite Quote

"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