Monday, 23 July 2012

Nifty Daily chart with Support and Resistance

SUPPORT
TRENDLINE -5090
HORIZONTAL TRENDLINE-5091
50SMA-5090
200SMA-5101


RESISTANCE
FALLING WEDGE
89SMA-5140
20SMA-5238


Nifty has left 2 Gaps @ 5197 and 5300,which has to be filled.Nifty has multiple and strong supports around 5080 to 5100 levels.Nifty should hold 200 SMA for further upmove.A close below supports, Nifty will turn weak and bears will have upperhand.

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