My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
April 19, 2013
NIFTY Chart analysis
Nifty daily chart closed above 50 Day SMA.
Price is testing the Golden ratio.
Some more distance to go before price hits the crucial falling resistance line from 6111 level as shown in second chart. Price has to stay above 50 SMA for targeting the falling resistance line and beyond.