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.

2 comments:

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

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