October 22, 2012

NIFTY Chart analysis

  • Nifty in a trading range between 5630 - 5740
  • Weekly indicators are at overbought levels but yet to trigger a sell so the larger time frame buy's are still intact. So one should wait for a close below 5630 for further selling. Close above 5740 may resume the up move possibly towards the resistance line shown in the second chart.

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