March 22, 2012

NIFTY Chart Analysis

  • Nifty bulls has to sustain above 20 Day SMA and try to close the week above 5 Week EMA and the triangle resistance line for a bigger up move to unfold.
  • For bears 50 Week SMA is acting as a big hurdle. Price keeps getting support at this level. For now they need to stay below 20 SMA and try to break below 50 Week SMA in the coming week.
  • 20 Day SMA at 5352
  • 5 Week High EMA at 5425
  • 50 Week SMA at 5230.

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