February 5, 2014
- Nifty Bulls managed to hang above 200 Day SMA. More panic for bulls only on price closing below 200 SMA.
- Daily chart shows the falling 5 Day High EMA as immediate resistance level. If price reverses the broken support zone of 6129 - 6139 may act as resistance.
- Weekly chart shows candle taking support at 50 Week SMA. Bears need to close the week below this line to extend gains.