July 17, 2012

NIFTY Intraday update

  • Nifty Hour testing 200 Hour SMA.
  • Price is stuck between two GAP's and a small falling wedge pattern.
  • 200 Hour SMA Holds the Key. If price sustains below 200 Hour SMA and the falling wedge's support line we should see a fall to fill the GAP on the downside.
  • Bullish above the falling wedge resistance line and on a break above 5231.

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