Technical Analysis and Research For 25-07-2011
Nifty-EOD Chart(22-Jul-2011):-
5 Crucial Levels
1- 5200- 2 Times Panic bottom support
2- 5350- Strong support
3- 5600- Most crucial and all the trends deciding level
4- 5740- Minor resistance
5- 5900- Strong resistance
Conclusions
Nifty traded most of the time between 5350-5600 in last 8 months and 5600 is the most crucial point because all the important EMAs(8,21,55,200) are near this point and it produces resistance many times in last 8 months.
Nifty is hovering around 5600 for the last 10 sessions and finally sustaining beyond this 5600 will be next move strong confirmation. As consolidation seen near 5600 therefore expected that Nifty will finally sustain above 5600 and fresh rally will be seen.
Nifty-EOD Chart(22-Jul-2011):-
 |
| Just click on chart for its enlarged view |
1- 5200- 2 Times Panic bottom support
2- 5350- Strong support
3- 5600- Most crucial and all the trends deciding level
4- 5740- Minor resistance
5- 5900- Strong resistance
Conclusions
Nifty traded most of the time between 5350-5600 in last 8 months and 5600 is the most crucial point because all the important EMAs(8,21,55,200) are near this point and it produces resistance many times in last 8 months.
Nifty is hovering around 5600 for the last 10 sessions and finally sustaining beyond this 5600 will be next move strong confirmation. As consolidation seen near 5600 therefore expected that Nifty will finally sustain above 5600 and fresh rally will be seen.