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| Nifty - End of Day Chart - 14 Feb 2012 |
The last time we saw the Index close around the Fibonacci 76.4% on the EOD, the close was at 5412 (see post here). Today's close was at 5416. We approximated 5414 as the Fib 76x (see post here). From the hi-lighted zone on the price above, it looks like we can wish for a more convincing close above the Fib76x !
Double Top .. any takers? Here are some free reads I liked....
http://thepatternsite.com/AdamEvePatterns.html
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:double_top_reversal
The hi-light on the MACD indicator (bottom of EOD chart) is also worth a view.
