July 21, 2010

Nifty daily chart analysis

  • Nifty is trading between its 5 day high and low ema for four days now. But the day range is expanding.
  • The raising wedges support trend line may keep the index up for some time.
  • It is still trading above its 20 day moving average and an important support line shown in the first chart.

1 comment:

  1. The Nifty future prices ended in red terrain along with overall addition of open interest and
    increase in the cost of carry, this is an indication of some longs being built up at lower levels.

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