September 20, 2012

NIFTY Intraday update

  • This up move in hour chart has left two gaps unfilled. 
  • Falling below 50 Hour SMA will fade the first of those gaps between 5447 - 5526.
  • Up trend will be safe above 50 Hour SMA.
  • Pattern in daily chart looks weak. Price has to trade above 5585 level to fade Today's morning gap. Above 5585 - 5600 level bulls may resume the up move.

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