June 1, 2011

Nifty Closes above 20 DMA

  • Nifty Closes above 20 DMA and if sustains above this level will soon reach the 50 day moving average.
  • MACD and Stochastic are still favoring bulls. Indicators are yet to become weak.
  • The hammer seems to be working well for bulls so far. Price closing towards the high of the week will increase the validity of the Weekly bullish hammer

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