April 28, 2015

NIFTY Chart analysis

  • Nifty has closed below 200 SMA.
  • Bulls now has to try to protect the up trend line shown in weekly chart. Which is going to be a tough task considering the strong down trend in place.
  • Month chart need to close below 8269 to confirm or strengthen the bearish engulfing pattern. Already previous month low of 8269 is broken staying below this level will strengthen bears further.
  • TATA Steel Chart analysis: CLICK Here

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