June 25, 2012

NIFTY intraday update

UPDATE - II
  • Channel resistance line discussed below has worked in favor of bears. If the channel support line or 100 Hour sma holds we may see an up move.
  • Breaking below both these levels could extend the fall.
UPDATE - I

  • Nifty hour chart shows price moving in a sideways channel. Channel has to be resolved on closing basis for bigger moves to happen
  • 2nd chart shows price with 100 Hour SMA. Which is crucial for bulls. holding this level Nifty may try to breakout above this crucial resistance zone.
  • Breaking below 100 Hour SMA shall result in a breakdown.
  • NIFTY WEEKEND UPDATE


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