December 12, 2011

Nifty intraday Update

  • Hour chart shows a fast fall in action. 50 Hour SMA is struggling to cross above 200 Hour SMA resulting in a fast fall. If price does not turn around soon then the recent lows might get tested again.
  • Breakdown of the supporting trend line in hour chart has given a good down move. If the day closes near the lows then important support levels will be tested again.
  • There is positive divergence in lower time frames But price has to confirm by a higher close which has not happened yet.

By at

4 comments:

  1. MarketriderDecember 12, 2011 at 1:58 PM

    dear san sir,

    your posted chart is really superb always.

    ReplyDelete
  2. satheeshDecember 12, 2011 at 2:23 PM

    San,

    Thanks for your appreciation. You had always been one of my inspirations in charting.

    ReplyDelete
  3. BuntyDecember 12, 2011 at 2:26 PM

    I too agree with this...you are simply superb...keep it up sir ! :)

    ReplyDelete
  4. SanDecember 12, 2011 at 9:04 PM

    Thanks all for your good comments.

    ReplyDelete

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