February 1, 2012

NIFTY Month End analysis

  • Nifty does a Bullish month it narrowly missed the 5 Month High EMA like it has done many times during this down trend.
  • For a bigger move to happen price has to give a clear breakout from this descending channel. 
  • Fibonacci fan's shows the beauty of Fib lines Nifty took support at Golden ratio line and rallied to close exactly at the 50% Fib line.
  • For bulls February candle shall trade above last month high price for the momentum to sustain or the larger trend will take effect.

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1 comment:

  1. Parminder February 1, 2012 at 10:07 AM

    thanks san for ur time and input for the indices and the way u throw ur perspective wit the market

    ReplyDelete

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