July 27, 2011

NIFTY Technical Analysis

  • We saw a double bearish engulfing yesterday But price remains inside the range. Going up and down in between 50 and 200 DMA. 
  • Price closing below 5 Day Low Ema is being used as a buying opportunity because of the range. So one can wait till price breaks 50 Day Moving Average.
  • Range 5496 - 5740
  • Day Low EMA @ 5570
  • 50 DMA @ 5515
  • FLAG OF GOLD
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