June 3, 2013

NIFTY Support levels


  • Daily chart shows price near crucial support zone between 5930 - 5970. This level must be broken on closing basis for a bigger down move to follow.
  • Price also near 38.2% Fib level which may act as support.
  • Weekly chart has a big bearish engulfing pattern and overbought indicators But price is yet to give followup by breaking below 5936 levels.
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