December 7, 2011

NIFTY Hour Trend update

  • Nifty one hour chart shows smooth up move above 20 and 50 Hour SMA.
  • For bulls price has to stay above 200 Hour SMA for extending this rally.
  • Price is nearing the Golden ratio. This one too has to be taken out decisively by bulls for continuing this up move. Any weakness seen near golden ratio may give a good short trade.

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