March 10, 2011

Nifty daily analysis

  • 50 day moving average and the support resistance lines should give direction soon.
  • The fib chart shows what has been going on, price moving up and down between 23.6% to 38.2%. So a decisive close above or below these levels can give good direction.
  • According to fib levels we may get these targets, Close Below 5413 means price moves towards the recent low. Close above 5600 = 5677 and 5796. 

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