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
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5 comments:

  1. SanAugust 10, 2011 at 8:02 AM

    5 DAY LOW EMA @ 5131

    ReplyDelete
  2. chetanAugust 10, 2011 at 8:07 AM

    good morning.

    ReplyDelete
  3. SanAugust 10, 2011 at 8:22 AM

    @chetan
    Good Morning

    ReplyDelete
  4. abhiAugust 10, 2011 at 11:18 AM

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

    ReplyDelete
  5. SanAugust 10, 2011 at 12:02 PM

    @abhi

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

    ReplyDelete

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