February 1, 2012

NIFTY Chart Analysis

  • In the last few attempts whenever 5 Day Low EMA approached 200 SMA it only managed to fall fast.  
  • One more candle above 200 SMA will confirm a breakout. Bears badly need a close below 5 Day Low EMA.
  • If price manage to stay above 200 SMA price will move into the previous support zone as shown in 3rd Chart.

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