August 10, 2011

NIFTY Daily Analysis

  • Reversal attempts should be able to close above 5 Day low EMA and above High Ema for a meaningful up move to happen.
  • Price staying above 23.6% may take it to 38.2% levels.
  • There is a GAP on chart which might act as resistance. Next fall may also start after filling the GAP.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

5 comments:

  1. Sir are you seeing any inverse Head & shoulder pattern in 5 min charts of nifty above 5190

    ReplyDelete
  2. @abhi

    There is a bullish possibility if nifty tries to violate the GAP. Otherwise its still negative.

    ReplyDelete