February 28, 2013

NIFTY intraday update

  • Nifty bulls managed to close the day above the Golden ratio.
  • Now for bulls price has to close back above 100 Day SMA and 23.6% Fib level shown in second chart.
  • Last chart shows price violating 20 Week SMA. A weekly close back above 20 Week SMA should add strength for bulls. Closing the week below Middle BB will be negative.

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