February 14, 2013

NIFTY Chart update

  • Nifty reacted well from the bullish engulfing pattern but failed to close above the crucial resistance levels of 50  Day SMA and 5 Day High EMA.
  • Fib levels for the current correction shows price getting resisted at 38.2% Fib level.
  • Fib levels for 5549 - 6111 shows support at 38.2% Fib level. Crucial support level is the 50% and 100 Day SMA confluence.
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1 comment:

  1. NIFTY 14-Feb-2013
    Current Market Situation :

    NIFTY current close : 5897
    NIFTY resistance level : 5912
    NIFTY support level : 5756
    NIFTY sentiment : positive
    NIFTY dominant cycle period : 16 days


    Levels Tomorrow :

    NIFTY intraday resistance 1 : 5922
    NIFTY intraday resistance 2 : 5950
    NIFTY intraday resistance 3 : 5991

    NIFTY intraday support 1 : 5872
    NIFTY intraday support 2 : 5844
    NIFTY intraday support 3 : 5803

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