August 24, 2013

NIFTY Weekend update

  • Nifty weekly chart has given a bullish hammer pattern. Now a  perfect pattern as the tail looks a bit long. Tail area shows buying support at lower levels, If price starts to fall this zone may act as support.
  • 5494 is the Day High EMA which has to be crossed on closing basis. Above day high ema price may target 38.2% Fib level.

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