February 18, 2012
- Price near golden ratio and the resistance line of a broadening pattern.
- But one has to see that price is yet to show any weakness as can be seen from the 3rd chart. So its important to follow price during such moves to capture maximum points. Especially for those who are long from lower levels its better to have a rising support line or trailing support line and be in trade till they are stopped out.
- VIX is near resistance line. Breakout can give correction to nifty. Nifty need to close at least below 10 Day EMA for some weakness to set in. Till then its better to be with the trend.