Technical Analysis and Research For 28-04-2012
Nifty-EOD Chart (27-Apr-2012):-
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1 Key supports range developed between 5136-5190 in last 37 sessions.
2- Nifty tradeed 15 days within key supports range in last 37 sessions.
3- Three times up moves after getting support within key supports range in last 37 sessions.
4- Most Crucial Long Term Trend decider 200-Day SMA is just below this range at 5130
Conclusions from EOD chart analysis
Correction is on and slipping below 5136 or 5130 can not be ruled out in ongoing correction but sustaining beyond key support range should be firstly watched for the confirmation of continuation/completion of on going correction.