MOVING AVERAGE AND STOCHASTICS
- Nifty reverses from falling wedge and closes near 10 and 20 DMA.
- Reversal has also taken place from the bottom of the broadening pattern. 6074 is the important support line for nifty spot. Above 6074 this up move will continue. If nifty falls below it then the up move will loose momentum.
- Daily stochastic may also give a buy signal. Every pattern here suggests some sort of bullishness but it is up to nifty to trade above 6074 and move ahead. If not bears will gain strength.
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