Monday, May 14, 2012

Nifty support is in the range 4800 to 4820

  1. I am looking at support joining trend line with major lows formed by Nifty. and it indicated around 4800 to 4820
  2. Hourly chart has also developed positive divergence
  3. Europe situation is not very promising still US is recovering from it's low and in the making of opposite hammer which is short term reversal sign
  4. I believe, Nifty should give a bounce back. Creating long position between 4830 to 4850 is advisable
 On Closing price basis, Nifty has already touch the trend-line at 4900

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