July 13, 2011

NIFTY Intraday Update

  • 2nd chart shows the GAP and 38.2% Fib level which may act as immediate resistance.
  • First chart shows the same GAP and the broken support area 5605 - 5625 which might act as resistance.
  • If these levels does not hold then that means bulls are strong. Closing above the broken support area will give us a clue.
  • One more thing to note is that we are moving up from 50 Day Moving Average. 

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