October 10, 2012

NIFTY Chart analysis

   
  • Nifty daily chart shows macd sell signal and possible support at 20 Day SMA. Bears need a close below 20 SMA for a bigger fall.
  • Weekly chart shows support at 5629 which was the previous resistance level.
  • Price has been staying above golden ratio for quite sometime now. So falling back below it on weekly closing basis will be negativ ef

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