April 1, 2011

Nifty Daily Analysis

  • Daily chart shows a confluence of resistance with price about to face a trend line and 61.8% Fib level around the same area. So this are need to be cleared convincingly by the bulls to continue the upward momentum. Getting stuck here may result in a meaningful correction.
  • Weekly chart too shows price near a resistance line which has stopped price from moving up earlier. Price has to clear this line on a closing basis for keeping the bullishness intact.
  • ASCENDING TRIANGLE OF CRUDE OIL

By at

2 comments:

  1. SAGORMOY BANERJEEApril 1, 2011 at 10:48 AM

    I wish to add one more interesting point appeared that if you draw a trend line from July2009 Bottom to May2010 Bottom and extend right on the same chart that will also end up at the same point

    ReplyDelete
  2. SanApril 1, 2011 at 11:23 AM

    @Sagormoy

    I tried that one, it's a valid point. So lets hope this place gives a good trading opportunity for everyone.

    ReplyDelete

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