March 23, 2012

NIFTY Daily Analysis

  • Nifty could not sustain above 20 Day SMA. Price closed below 50 Day SMA.
  • Price may seek support at 200 SMA failing to close above this level will extend the correction towards 50% Fib level shown in 2nd chart.
  • 50 SMA at 5262
  • 200 SMA at 5158
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