February 9, 2012

NIFTY Support and Resistance levels

  • Line chart shows price moving around the 5360 mark. Daily chart too is making a small range here over the last 3 days. Once this range between of (5320 - 5414) gets broken on closing basis nifty will move away from this support resistance level. A bearish weekly candle at this level may give some relief for bears next week.
  • Important  support is at 5260 levels which is the 50 Week SMA. Resistance is the 50% fib level as shown in 2nd chart.
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2 comments:

  1. Nilesh PatilFebruary 9, 2012 at 11:05 AM

    @ San Sir,
    Request you to please post USDINR chart analysis if time permits.

    Regards,
    Nilesh Patil

    ReplyDelete
  2. SanFebruary 9, 2012 at 11:29 AM

    @Nilesh
    I will try to do a post today

    ReplyDelete

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