Nifty Weekly Technical Analysis for Week 27 Dec 2010
Nifty Daily Chart
Nifty is forming ascending triangle on daily chart which is a bullish breakout pattern. It is moving near to upper trend line of the triangle and expecting a breakout on upside in near term.
Resistance at 6,025 (50 DMA) while Support stand at 5920 (20 DMA). On upside if level of 6,040 breaches decisively then we could see rise up to the mark of 6,080.
MACD will cross the signal line and RSI is still below 50 levels. Move …
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Nifty is forming ascending triangle on daily chart which is a bullish breakout pattern. It is moving near to upper trend line of the triangle and expecting a breakout on upside in near term.
Resistance at 6,025 (50 DMA) while Support stand at 5920 (20 DMA). On upside if level of 6,040 breaches decisively then we could see rise up to the mark of 6,080.
MACD will cross the signal line and RSI is still below 50 levels. Move …
Read the full story »
posted by Bramesh at
10:36 PM
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