Technical Analysis and Research For 25-07-2011
Nifty-EOD Chart(22-Jul-2011):-
Falling trend line begun on 05-11-2010 from 6338 and and since then Nifty tested and retraced 5 times earlier. Nifty again tested it on 22-07-2011 and hovered around 4 hours between 5606-5636 with intraday consolidation patterns
Sustaining above 5636 will be next rally first strong indication,as consolidation seen near it between 5606-5636 on 22-07-2011 therefore its break out and finally sustaining above possibility turned higher.
Rally confirmation level is sustaining beyond 5636 within couple of sessions.
Nifty-EOD Chart(22-Jul-2011):-
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| Just click on chart for its enlarged view |
Sustaining above 5636 will be next rally first strong indication,as consolidation seen near it between 5606-5636 on 22-07-2011 therefore its break out and finally sustaining above possibility turned higher.
Rally confirmation level is sustaining beyond 5636 within couple of sessions.