August 29, 2011

NIFTY Resistance levels for this up move

NIFTY HOUR CHART
  • Having crossed the 50 Hour moving average if nifty manage to close this day above it bulls may target 4946 and 4965 levels. Bulls shall stay above these levels for changing the bearish structure in hourly chart.
  • Nifty spot is moving towards the 50 Hour moving average line.
  • Bulls have tired and failed many times at this level.
  • They have to an hourly close at least to show some strength.
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