September 2, 2013

NIFTY Chart analysis

  • NIFTY Week came back from the lows to close at 100 Week SMA and formed another Hammer.
  • Daily chart shows price closing above 5 Day High EMA with MACD ready for a bullish cross.
  • Last chart shows price near the falling resistance line from 6093 levels. Nifty must trade above the resistance line and close above 5528 for bulls to make progress.

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