November 28, 2012

NIFTY Support and resistance levels

  • NIFTY Closed above 20 and 50 Day SMA. This level should now act as support.
  • Line chart shows price still in a consolidation range. For bigger move price has to resolve this pattern.
  • Weekly chart shows price above 5 Week High EMA. Only a closing value above High EMA will confirm strength.

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