July 8, 2011

NIFTY near 200 DMA

  • Nifty weekly chart shows a possible resistance area at 5750 on closing basis. 
  • Price is near 200 DMA.
  • These are the next two resistance points. Good weekly closing above these levels will take nifty closer to that upper bollinger band shown in the 2nd chart.
  • On the contrary getting resisted here and closing below 5700 will be slightly negative.
  • DOW JONES EOD ANALYSIS

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