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Topic : NIFTY TA
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Activity:  1 comments  302 views  last activity : 07 06 2010 20:18:04 +0000
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NIFTY daily charts

->Support seen at 4950. 

->Oversold indication.

->Overall trend may or may not have been formed. Bullish undercurrent still intact.

->Any dip to 4950 levels should be used to go LONG.

->Chances of breaking 5180/5200 level likely by this month.

 

MACD Bullish Divergence seen on NIFTY chart.


 
1 comments on "NIFTY TA follow up"
  Commented by  Lokesh, Broker/Trader, Day Trader    | 12 22 2009 04:06:14 +0000
Update : Yesterday [21-12-2009] NIFTY managed to close around 4950 level.  Today [22-12-2009] with the way Asian markets are performing [1-2% +ve] looks like we the mentioned level of 4950 will hold and in fact we should see 5000+.


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Previously i had posted an article arguing as why the undertone in NIFTY remains bullish.  Now, NIFTY seems to have turned bearish [yes, despite today's upmove]. NIFTY is most likely to move upto 5050 [20EMA level] and then reverse.   Today's...
Update : Yesterday [21-12-2009] NIFTY managed to close around 4950 level. Today [22-12-2009] with the way Asian markets are performing [1-2% +ve] looks like we the mentioned level of 4950 will hold and in fact we should see 5000+.
NIFTY daily charts - Support seen at 4950.  - Oversold indication. - Overall trend may or may not have been formed. Bullish undercurrent still intact. - Any dip to 4950 levels should be used to go LONG. - Chances of breaking 5180/5200 level...
more...