Saturday, November 24, 2012

Nifty P&F (Wk 2611-3011) - if Daily pullback does not breach 5670, going down to 5450!


Though price is still hovering around 5600, but it has broken the level.

Weekly Analysis:

Daily Analysis:


Weekly under BrRL (5700) & Daily over BlSL (5580).
But a double-bottom breakdown below 5620 in weekly chart has set some momentum downwards (unless it's a fake-out). Daily pull-back should not cross 5670 level. Weekly support of BlSL with rangebound movement should come @5450 else @5350.

However, so far there is no threat towards the uptrend that has been set in since 4820 in mid-May.

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