June 15, 2011

NIFTY Chart for bulls and bears

CHART FOR BULLS
CHART FOR BEARS
  • First chart is for bulls. If the trend line starts from 5892 gets broken and price closes above it bulls may be able to target 5600 level.
  • And that is the very thing bears does not want to happen. Because the second chart shows a possible descending channel for bears. The trend line break discussed in the first chart will make the channel invalid. and things may turn in favor of bulls.
  • For bears the support line shown inside the channel should break. which can accelerate the correction.

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