May 9, 2012

NIFTY Chart Analysis


  • Bearish cross of daily chart between 50 and 20 SMA continues to be effective. Add to that price fell below 200 SMA which becomes an important resistance level. The attempted up move was stopped near this level.
  • Last chart also shows price below 20 Week SMA.Till the resistance line of weekly is not taken out  bulls have no chance of a reversal.
  • S&P 500 EOD UPDATE


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