March 9, 2013

NIFTY Weekend update

 
  • NIFTY Bulls managed to close above 50 Day sma and Golden ratio, Price just managed to close above both these levels.
  • Weekly chart shows a Huge bullish engulfing pattern. This may not be of great significance as we are trading closer to the high end of the range But Bulls may have enough momentum to reach the range top once again.
  • Price failed to close above 5 Week High EMA. This level may act as resistance for bulls in the coming week.

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