May 25, 2012
- Week getting support near weekly lower bollinger band.
- Price is getting resisted near the broken golden ratio. This level must be crossed for a sustained up move to happen.
- Nifty near crucial levels as Week candle approaching 5 Week low EMA and Month candle near Month low EMA. Nifty Week low EMA at 4918. Month low EMA at 4937
- Daily chart shows candlesticks with lengthy shadows but very little progress on closing basis. Price yet to close above 10 Day SMA.
- Hour chart shows a channel formation with price violating its resistance line. Moving above 1328.49 may give a short term up move.
- Last chart shows a triangle pattern in 15 minutes chart with a possible 25 point move towards the side of breakout.