August 1, 2011

NIFTY Fibonacci level

  • 38.2% Fib level is acting as resistance.
  • If 23.6% level holds we might see another attempt to break day high.
By at

3 comments:

  1. jayaprakashAugust 1, 2011 at 11:33 AM

    todays gap up if it sustain will it qualify for island reversal pattern,i request you for your valuable opinion

    ReplyDelete
  2. SanAugust 1, 2011 at 11:49 AM

    @jayaprakash
    See for an island reversal the GAP's should not close. In this case there are no clear GAP's so this may not classify as an island reversal pattern. See the chart in wikipedia you will understand better.

    http://en.wikipedia.org/wiki/Island_reversal

    ReplyDelete
  3. jayaprakashAugust 1, 2011 at 7:22 PM

    thank you san for your clarification

    ReplyDelete

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