May 27, 2011

NIFTY EOD Update

EOD UPDATE
  • Price Failed to stay above 5480 - 5490 level. So we have to see on monday if this level is achieved on closing basis or not.
  • Closing above 5490 can give at least 100 Points for bulls.
  • Above 5490 The resistance are 5517 and 5605. 
INTRADAY CHART
  • Nifty is filling the GAP between 5453 - 5479.
  • We have to see if the strength of bulls lasts above 5479. Daily candle closing above 5480 will favor bulls into next week.
  • Target for Inverted Head and shoulders pattern is approximately 5470 level.
  • So price should sustain above 5480 - 5490 level for Bullish momentum to continue
By at

2 comments:

  1. dysMay 27, 2011 at 11:50 AM

    Hi San

    Is the target 5470 or 5570?

    Pl reply.

    Thanks

    ReplyDelete
  2. SanMay 27, 2011 at 12:19 PM

    First target is around 5480 - 5490 Level. Daily close above this is good and longs can be carried to next week.

    ReplyDelete

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