May 18, 2011

NIFTY Spot Intraday update

CHART-III
  • Nifty 5 Minutes chart has given a breakdown as shown in the below chart
  • But for bulls hour chart has one last support line which bears need to break and close below it.
CHART-II

CHART-I
  • Nifty spot in a range from 5421 - 5460.
  • This range has to be resolved for the next direction.
By at

5 comments:

  1. MarketMentalsMay 18, 2011 at 12:03 PM

    Thats a nice one san. What do you mean by resolve? a breakdown or breakout?

    ReplyDelete
  2. MarketMentalsMay 18, 2011 at 12:05 PM

    in that case a breakout would be above 5440 and downwards it would be 5420. Am i right? trying to learn

    ReplyDelete
  3. SanMay 18, 2011 at 12:05 PM

    @Vishal Nadar
    It's hard to predict which way this one is going to go. Trend is down But shorter time frames looks oversold. So Lets wait and see what it does out of this range.

    ReplyDelete
  4. AnonymousMay 18, 2011 at 12:23 PM

    @SAN - more than a symmetrical triangle a descending triangle might be in play with the base lines a 5422 and 5420

    ReplyDelete
  5. SanMay 18, 2011 at 12:49 PM

    @Vishal Nadar
    That's right

    ReplyDelete

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