Monday, January 12, 2015

Nifty Chart

Nifty Trade Support 8247-8244 Resistance 8313-8319
Nifty Trend Support 8223-8221 Resistance 8345-8347

10 days MA and 50 days EMA at 8247-8240, So closing basis below 8240
will issue some selling pressure.  Already Hold the +ve breakout support
and Short term trend line support.

Long term Support line broken before a week and exactly returned
from 61.8% of the swing 7961-8626.  Candle size and the volume
at the time of support line broken provided the clue it will take
resistance at the -ve breakout trend Line.

Consolidation is possible with -ve bias.

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