June 21, 2012

NIFTY Hour chart analysis

CHART-II
  • Price contraction shown in the below chart resulted in a breakout in favor of bulls. For tomorrow bulls has to face the resistance zone of 5180 - 5200 once again.
CHART-I

  • Nifty hour in a contraction pattern. Breakout from this pattern should give good direction.
  • Intraday weakness below 5094 and 23.6% Fibonacci level. Breaking the support line could lead to a larger correction.
  • Bulls strong above the resistance line and 5145 levels.


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1 comment:

  1. UnknownJune 21, 2012 at 8:21 PM

    Yes this is really awesome what a beautifull post with nifty hour charts and along with analysis.Keep Going Dude.Excellent.Nifty Intraday Tips

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