March 24, 2011

Nifty Daily Analysis

  • Nifty is trading close to its 50 day moving average. If nifty is able to break and close 50 dma we may see nifty moving towards the 200 day moving average.
  • Nifty Fib levels also shows a similar possibility. If nifty continue to sustain above 23.6% and break the resistance line drawn in the chart, Nifty may target 38.2% level which is near 5620.
  • Nifty getting resisted at 50 Dma will favor bears.

1 comment:

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