June 6, 2011

NIFTY Intraday Update

  • Nifty has held on to its 20 day moving average for now. But if tested again today we may see it close below 20 DMA.
  • Price has turned in favor of bulls in 5 Minutes time frame. Price trading above cloud in 5 Minutes after a while. Resistance area for this up move is between 5525 - 5535 level. Hour closing above this level will favor bulls.

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