February 24, 2016

Nifty intraday update

  • Nifty one hour chart shows price below 50 and 200 Hour SMA. Till price stay below these lines weakness is likely to continue.
  • More weakness if 6961 gets tested. Mild strength if price starts to trade above 50 Hour SMA.
  • For intraday 7031 and 7090 are crucial numbers. Its a trending move shown in 5 Minutes time frame. If price moves above the cloud an intraday reversal is possible.

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