July 22, 2011

NIFTY Intraday Update

CHART-II
  • Nifty has violated the resistance line but has a cluster of resistance from 5640 - 5655 level.
  • We have to see how price behaves from that level if nifty is able to reach there
  • Nifty has to close the day near day high for sustaining the upward momentum.
CHART-I
  • Nifty 30 Minutes chart with a possible resistance line
  • The upward momentum will stay intact only if price is able to break and stay above the resistance line.
  • Getting resisted here may result in a fall.
By at

6 comments:

  1. keshavJuly 22, 2011 at 11:31 AM

    close above line

    ReplyDelete
  2. PANKAJ SHAHJuly 22, 2011 at 11:56 AM

    Dear San,

    watch trend line connecting 5944 and 5740 which may be around 5700-5710.

    Pankaj Shah

    ReplyDelete
  3. SanJuly 22, 2011 at 2:02 PM

    @PANKAJ SHAH
    That may be possible if day closes above 5653 levels.

    ReplyDelete
  4. SanJuly 22, 2011 at 2:02 PM

    @keshav
    It has closed above the line but price has multiple resistances i have updated the chart.

    ReplyDelete
  5. keshavJuly 22, 2011 at 2:13 PM

    LET'S NOW FACE 5645 - 5653 AREA

    ReplyDelete
  6. PANKAJ SHAHJuly 26, 2011 at 12:08 PM

    @PANKAJ SHAH
    Dear San,
    as expected resistance came exactly in range of 5700/5710 . today top 5702 and sell off with rbi policy.

    Pankaj Shah

    ReplyDelete

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