Saturday, March 10, 2012

Nifty P&F (Wk 1202-1603) - Bulls if close above 5375, bears if close below 5345


First support came at 5170.

Weekly Analysis:

Daily Analysis:


Weekly paused. Daily UP. A reversal from 38% fib & a channel support. The upside pullback has approached 38% (@5345) of the downside reversal. I am still not confident about the upmove, there are resistances lying @ 5375 & 5405. A close above 5375 will make the case for Bulls strong. Closing below 5345 remains week on daily chart and we should head back to 5180 levels.

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