August 31, 2010

NIFTY daily chart analysis

  • Nifty did a gap up on Monday but faced selling pressure throughout the day and closed near the recent lows.
  • the index has closed below 20 DMA. It is testing 50 DMA. Closing below 50 DMA will test important support areas.
  • U.S. markets also ended in the negative territory which may give a gap down for us.
  • S&P 500 analysis after closing bell

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