Sunday, June 17, 2012

Nifty P&F (Wk 1806-2206) - a battle @ 5300 likely to play out in a range


5110 first and then 5140 - resistances were lined up perfectly as per the charts. Today's analysis says 5300 still a point of huge resistance.

Weekly Analysis:

Daily Analysis:


Weekly & Daily UP. 5140 acted as resistance twice in the week. However, the last top is suggesting a double top break-out.

A VPO is targeting a price-objective of 5245. On weekly chart BrRL suggesting a resistance at 5260, which also happens to be 62% fib for the price range of 5620-4820! The daily chart BlRL is however indicating, this won't happen smooth, but probably in an ascending range.

Lastly, everything is still settled for a good combat at a few notch below 5300 level.

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