August 3, 2011

NIFTY Intraday Update

  • Nifty is moving around the Golden Ratio. Next leg down will happen if this level does not hold. Closing below 5400 will make things easier for bears.
  • We saw price staying below 50 Hour moving average yesterday. It continues to trend lower below this moving average.
  • Bulls should hope for a close above 5450 at least.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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