Thursday, January 5, 2012

Update with 60 Min - 05 01 2012 - Resisted near the 34EMA..

Nifty - 60 Minute Chart - 02 to 05 Jan 2012
In our last post (here) we saw the 34 EMA as the first line of resistance for the Nifty after it crossed the 4650 (red line in chart above) mark. Now we see that the Nifty has made about half a dozen attempts to cross the resistance about 15 odd points below the 34EMA (for convenience shown with a blue line at 4800, the 34 EMA on the EOD Chart is around 4800 for last couple of days).  Nifty is still good for a go at the blue line - world cues willing... check that out here