January 11, 2012

NIFTY Daily Analysis

  • Price has given a breakout But need to sustain above 50 Day SMA.
  • Price testing 50 SMA and closing above it will favor bulls. If today's close is below 50 SMA and above 4800 It still favor bulls. Problem for bulls is if price falls back into the range again from which it gave a breakout.
  • Price has also closed 5 Day High EMA. So if levels like 4800 or 5 Day high EMA is protected on closing basis Bulls may try to extend this up move towards Ichimoku cloud or 20 Week SMA in the coming day's.
  • COPPER TESTING TRIANGLE RESISTANCE
  • S&P 500 EOD ANALYSIS

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1 comment:

  1. AimNiftyJanuary 11, 2012 at 8:46 AM

    @SAN,

    Thanks for update. Let's see how much it pulls back before going up.

    ReplyDelete

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