July 26, 2011

Nifty Testing 200 Hour Moving average

  • Nifty hour is near its 200 Hour moving average.
  • Last two attempts to break this moving average has failed.
  • Now if day closes below 200 Hour moving average we may be seeing a trend changing event.
  • Day is not closed yet but chances of today's candle engulfing two bullish candles are there. Bull closing day above 5610 may give some hope for them.
  • Volume analysis too favors bears for now.
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1 comment:

  1. gaurangJuly 27, 2011 at 12:41 AM

    This time nifty has ample chances to go to sub 5150 levels

    ReplyDelete

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