March 8, 2013

NIFTY Chart analysis

  • Nifty testing a falling resistance line from 6111 levels.
  • Price is also near the 50% Fib level as shown in the second chart.
  • But price has closed below 20 and 100 Day SMA as shown in last chart. Holding above this level bulls may try to move up towards the golden ratio and 50 Day SMA.

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