October 12, 2011

Broadening pattern of NIFTY

CHART-II
  • Broadening pattern breakout has worked in favor of bulls. Closing too looks good for bulls
CHART-I
  • Nifty is trying to breakout of the broadening formation in 5 Minutes chart.
  • For bears price should fall below 5056
  • Price sustaining above the resistance line of the broadening formation will favor bulls.

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