Friday, April 13, 2012

Nifty P&F (Wk 1604-2004) - strong support in 5140-5180, upside resistance 5380-5420


For the whole week struggled to close below 5240 and the last day of week closed meekly below it.

Weekly Analysis:

Daily Analysis:


Weekly DOWN. Daily DOWN. Overall trend has turned down, but there is a BlSL at current point on both daily & weekly chart; Bulls will take this chance. Only a close below 5180 in daily chart & 5140 in weekly chart will set the bearish trend in full-force. On upside, there is a band of resistance between 5380-5420.

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