December 16, 2011

NIFTY Hour Trend update

CHART-II
  • Nifty got resisted at 50 Hour SMA. It continue to break all support levels. Sustaining below 4639 will lead to deeper cut. 
CHART-I
  • Nifty hour stuck between 20 Hour and 50 Hour SMA.
  • Once this range gets resolved price may move to the next resistance levels like 4840.
  • Closing below 20 Hour SMA will keep bears interested.

By at

2 comments:

  1. KMDecember 16, 2011 at 1:31 PM

    @Sam,

    What are the values of 20 Hour SMA & 50 Hour SMA?

    ReplyDelete
  2. SanDecember 16, 2011 at 1:40 PM

    @Tigar
    Right now 50 Hour SMA is at 4807
    20 Hour SMA is at 4763

    ReplyDelete

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