April 30, 2015

Nifty Trading levels and Broadening pattern

  • Daily chart need to close outside the range shown in first chart. Price will extend the down trend on closing below 8185.  Closing above 8308 may result in a bounce.
  • 50 Week SMA continue to hold. Bears need to close below this line for extending the fall.
  • The broken broadening formation is looking good so far for bears. There can be a bounce towards the support line of the pattern or partly into the pattern before the next big fall can happen.
  • Tata Steel chart analysis: CLICK Here

1 comment:

  1. Today you gave information of last 50 weeks trend of nifty that is good keep posting and thanks for sharing such type of news..............
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