Friday, April 6, 2012

Nifty micro level analysis

Looking at All these charts bulls seems more in control and after some minor hiccups it will resume bull run phase.
  1. On Daily Nifty Future Chart, bullish flag formation can be noticed
  2. On Hourly chart Nifty has already made double bottom and now moving in bigger triangle with positive bias.
  3. On Half hourly chart Nifty future is taking firm support on 200 SMA with bullish crossover of 100 SMA and 200 SMA only worries is a bearish crossover of 50 SMA and 100 SMA (which is not so strong.

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