Nifty Daily EOD Charts 14-05-2009

Nifty took support @3550 and bounce upwards but unable to cross 3635

Now we face an immediate resistance @3616 which is 5 EMA and after that 3637

We have formed tripple top around 3710 levels so lets see is we are able to breach that or not.All depends on outcome of election results.

The 10 day a/d ratio has now turned up (above) while there is a drop in the % of stocks above their 10 day averages but % above 20 and 50 is almost stable just around 80%.