Monday, September 02, 2013

Nifty - Technical Update

  1. Nifty closed above a falling TL, indicative of a BO. But is this BO for real.
  2. Well we need more confirmation whether the down move is complete, or we are rising to fall again.
  3. For this up move to continue, we must take out the 5600-5685 band.
  4. We are already at a crucial resistance of 5566, if we take it out, then the resistance zone mentioned takes effect.
  5. The skies are clear once we take out these two levels, though.
  6. So keep your risks measured till the time all these resistances are taken out, till such time there is a real risk of sellers returning.

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