January 3, 2012

NIFTY Analysis

  • Nifty daily chart shows a possible falling wedge pattern which can give good direction. 
  • Price has closed above 5 Day Low EMA. Price is moving up from 78.6% Fib level and if yesterday's Day low is held we may see an up move happening. Staying above the channel in hour chart will also help bulls.
  • CNX IT AT THE RESISTANCE LINE

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