February 7, 2012

NIFTY Futures intraday update

CHART-II
  • Channel line has broken. Next support at 5330 levels. Closing below this level will favor bears.

    • CHART-I
    • NF is not giving big corrections in favor of bears.
    • Overbought indicators are giving sideways corrections followed by upper breakouts. 
    • Price continue to trend up above 50 Hour SMA as shown in 2nd chart.
    • Breaking the up trend line shown in first chart may give a correction in favor of bears.
    By at

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