December 28, 2011

CNX IT Chart Analysis

  • CNX IT is consolidating between 50 Day SMA and 200 Day SMA. Breakout on either side on closing basis may give good direction. Bullish attempts are getting failed So bears seems to have good risk reward ratio. Having said that it's no use anticipating a move so lets wait for crucial levels or moving averages mentioned in the charts to be violated on closing basis.
  • BANK NIFTY ANALYSIS

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