April 23, 2013

NIFTY confluence of resistance

 
  • Nifty is at the falling resistance line from 6111 levels, Price yet to show weakness.
  • Price is nearing 100 Day SMA and the Golden ratio. Confluence of resistance near 5870 - 5890 may stop this up move.
  • For now price must sustain above the falling resistance line for moving towards the crucial resistance area mentioned above.
  • CNX - IT CHART ANALYSIS
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