April 1, 2015

Nifty Chart analysis

  • Nifty testing its 100 SMA again. For now its showing weakness at this level.
  • 2nd chart shows price moving back into the broadening pattern after a breakdown. The low made during last week is crucial. Bears need this level (8269) to broke again for bigger downfalls to happen.
  • Weekly chart shows a possible inside candlestick formation. Previous high and low of the weekly candle is yet to break. closing outside this range may give good direction.

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