November 5, 2012

NIFTY Chart analysis


  • Nifty managed to close above 5 Day High EMA and 20 Day SMA.
  • But price is yet to capture 5 Week High EMA on closing basis.
  • 3rd chart shows nifty back into the earlier trading range thus not giving clarity for the bigger direction.
  • Last chart shows price closing above Golden ratio of bigger time frame which is a big relief for bulls now.

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