Hour chart:
Supports at 5570-5600-5620 based on Channel, 200DMA, and Fibo numbers. Intraday bounce possible based on these numbers - though the overall trend is down. Breakout of Falling wedge is necessary for further upmoves.
March 26, 2013
200 DMA - support or failure??
Nifty has made another low of 5624. Though Positive divergences are exhibited consistently in Hour charts and day Charts, Nifty keeps trending down and down. 200 DMA at 5619 is the last hope for Bulls - supported by channel at 5570-80 ranges. If there has to be a pause in down movement - the EOD close must be above 200 DMA - till then the downmove continues.
Hour chart:
Supports at 5570-5600-5620 based on Channel, 200DMA, and Fibo numbers. Intraday bounce possible based on these numbers - though the overall trend is down. Breakout of Falling wedge is necessary for further upmoves.
Hour chart:
Supports at 5570-5600-5620 based on Channel, 200DMA, and Fibo numbers. Intraday bounce possible based on these numbers - though the overall trend is down. Breakout of Falling wedge is necessary for further upmoves.
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