May 24, 2013

NIFTY Chart analysis


  • Price closed below 20 day sma and is testing 5970 level. More falls in nifty only if price stays below 5970 levels.
  • Immediate support at 38.2% Fib level.
  • If price trades below 38.2% Fib level then price could fall towards 50 Day SMA and 50% Fib level. For bulls though an up move is possible if price stays above 5970 levels.
  • NIFTY BEARISH ENGULFING AND DIVERGENCE
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1 comment:

  1. LearningMay 24, 2013 at 10:09 AM

    Hello San,

    Thanks for regular updates. I'm a newbie and learning basics of Technical Analysis. I'm getting lot many things to learn here.

    Thanks and Regards,
    Ravi

    ReplyDelete

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