September 29, 2010

Nifty daily analysis

  • If the bulls have to avoid a big correction they should push the price above the shooting star pattern created day before yesterday.
  • Yesterday Nifty gave some correction followed by the inverted hammer but the bulls managed to make a good comeback.
  • So Real weakness is not yet visible. Price is yet to hit the 5 day low ema after the breakout. Weakness only when nifty closes below 5 day low ema.
  • NIFTY CHART - BEAUTY OF FIBONACCI  LEVELS
By at

3 comments:

  1. PrabakarSeptember 29, 2010 at 7:38 AM

    Good Morning San.

    Thanks for the Charts.

    Price above shooting star is 6072, is that correct?

    ReplyDelete
  2. SanSeptember 29, 2010 at 7:57 AM

    GM Prabakar
    That's right

    ReplyDelete
  3. UnknownSeptember 29, 2010 at 9:28 AM

    Thanks San, as always.

    ReplyDelete

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