Tuesday, April 3, 2012

Nifty technical for Apr 4

  1. Trendline is still intact which is a bearish sign
  2. Decreasing volume because of only three trading day this week
  3. Doji formation at top, that too with touching trend line, 
  Bulls need to close above the trending line, Nifty is in bull run in the speculation of rate cut. low volume is only because no fresh long is being created because of only three trading session, hence traders are taking is safe. Tomorrow resistance would be 5385 and support would be 5300, breaking the limit may show 5417 and 5250 level in short term.

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