- Yesterday's GAP being filled today.
- Price is near 61.8% Fib level now.
- Dip to 78.6% may fill the GAP completely.
January 4, 2011
DAILY LINE CHART
DAILY BAR CHART
- Nifty has been going up after closing above its 50 day moving average.
- Next resistance zone for nifty is between 6186 - 6233.
- Stochastic and RSI are in overbought zone But MACD is suggesting some more upside. Negative divergence is yet to be seen.
- So the best trade would be to stay long with a trailing stop.
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