July 30, 2010

Nifty daily chart analysis

  • Nifty daily chart is showing another consolidation triangle pattern. 
  • Since the raising wedge pattern has given a break out on the down side, this triangle may break on the down side. But because it is a triangle one should look for a false break out as well.
  • Price is coming near the 20 SMA. the main support for nifty is at 5350 look for a reaction from these two levels.

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1 comment:

  1. rochak parekhJuly 30, 2010 at 9:59 AM

    http://stock2gains.blogspot.com/2010/07/trade-updates_30.html

    Soon coming up with my monthly performance report card.

    ReplyDelete

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