- Price is near the support line of the descending triangle which may result in a bounce.
- For the bounce 5250 and 20 Day SMA will be resistance levels. Another hit at the resistance line will make a good descending triangle.
- Week MACD looks good for bears but price refuses to close below 50 Week SMA.
- India VIX is near the resistance line. If VIX starts to correct we may see a decent bounce in Nifty.
- S&P 500 EOD UPDATE
March 27, 2012
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.