November 1, 2012

Nifty chart update


  • Nifty has to sustain below the range for a possible hit at 50 Day SMA.
  • Price has fallen below the golden ratio. Weekly close below this level will favor bears.
  • Daily chart trying to hold above 38.2% Fib level. More correction on breaking this level.
  • A bigger fall only if 50 SMA and the up trend line of last chart does not 


By at

3 comments:

  1. Sandeep KoppulaNovember 1, 2012 at 9:29 AM

    Dear San,

    Ford has given a breakout today closed above its 200 DMA. Could you please analyse the chart and post next levels of resistance and Fib. levels

    Thanks.

    ReplyDelete
  2. SanNovember 1, 2012 at 6:12 PM

    @Sandeep Koppula

    Ford analysis posted:
    http://niftychartsandpatterns.blogspot.in/2012/11/ford-motor-inverted-head-and-shoulders.html

    ReplyDelete
  3. Sandeep KoppulaNovember 1, 2012 at 9:07 PM

    Dear SAN,
    Many thanks for the FORD charts.

    Regards,
    Sandeep

    ReplyDelete

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