July 14, 2010

Nifty daily chart analysis

NIFTY WEEKLY CHART
  • Nifty daily chart is showing a possible raising wedge.
  • Nifty is still trading above 5 day EMA. 20 SMA and all major moving averages.
  • Nifty weekly is showing room till 5500+ that is the space till the channel top if the trend line holds.
  • If the trend line breaks one can start accumulating shorts.

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