February 4, 2014

Nifty near 200 SMA

  • Nifty near 200 SMA. Recent fall below 200 SMA did not last long. Bulls may hope for the same scenario to play out. But when the trend is strong it usually favors one who follows and not the one who predicts.
  • Daily closing below 5972 will weaken things further for Nifty bulls.
  • Possible fib support at 38.2% Fib level (5918) If 5972 does not hold on closing basis.

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