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.

1 comment:

  1. Its has crossed 50Day SMA and facing resistance near falling trendline and close at Golden Ratio.

    One of this has to fail/reject if the downtrend has to continue. else we are in uptrend and all these will be crossed and resistance will be take out next week.