April 12, 2011

SHOOTING STAR of CNX - IT

  • Weekly chart of CNX - IT has given a shooting star candlestick pattern.
  • Price got resisted near 78.6% Last week and closed near 61.8% Fib level. If price continue to stay below the golden ratio we may see a correction in this index.
  • Bearish candle has formed below the Broken weekly trend line which can act as resistance.

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