April 20, 2011

Nifty Daily Analysis

  • Nifty managed to close above 200 day moving average. Current correction is yet to close below 200 day moving average.
  • Price in weekly chart is staying above 20 week moving average. If sustains above this level we may see a rally. Falling below it will favor bears.
  • Important support zone for now is between 5654 - 5696
  • NIFTY WEEK IN A TRIANGLE PATTERN
By at

2 comments:

  1. PrabakarApril 20, 2011 at 8:56 AM

    Good Morning San.

    Thanks for the analysis. It seems sell on rises.

    ReplyDelete
  2. SanApril 20, 2011 at 9:13 AM

    @Prabakar
    Bulls may gain strength if price crosses 5850 till then its sell on rise

    ReplyDelete

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