April 25, 2012
- Nifty's daily bollinger band continue to contract.
- Up move may happen if nifty trades above 20 day sma (5257). Bulls will be weak below yesterday's low.
- Weekly chart is shown with 20 Week SMA. Weekly stochastic is turning down and if price starts to trade below 20 week SMA we may see a bigger down move. If 20 Week SMA is held we may see the opposite move as well so one should wait for the signal.
- NIFTY INTRADAY LIVE CHART
- This bounce may stop at the falling resistance line or the 50 period sma of Four hour chart.
- Price trading above the resistance levels mentioned should take SPX back towards 1392 levels.
- Last chart shows the crucial numbers in four hour time frame.
- SILVER DESCENDING TRIANGLE AND GOLDEN RATIO