February 9, 2011

Nifty Futures intraday update

  • The resistance line shown in 5 minutes chart is also a possible neck line of a small inverted head and shoulders pattern.
  • If 5309 is taken out by bears then the balance of power will shift towards bears and they will get stronger if day low(5263) breaks again.
  • Breaking above the resistance line and closing above this line may confirm a short term bottom for nifty futures.
  • RCOM DESCENDING TRIANGLE

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