October 18, 2011

NIFTY Analysis

  • Support line of the descending triangle is acting as resistance.
  • Stochastic is showing overbought readings in daily time frame.
  • Price may move towards 50 or 20 SMA if stochastic triggers a sell. A bigger fall may happen only if price breaks below 50 and 20 SMA.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

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