February 12, 2009

Nifty EOD Chart, 12-02-09

This is for education purpose only and may not be useful for trading

EOD view: markets likely to trade within triangle being formed over last 2-3 months. Within this triangle, 10/ 20 day signals likely to fail. Tight swings like 2 day swing may give decent signals but this too can be unreliable as apex of triangle is reached.
Expect strong movement once markets break out from triangle.
Weekly charts: rangebound between 2600 and 3150. Resistance on RSI (14 bar).
20 day swing : now with BUY mode with SL 2660...not very far. The earlier BUY and SELL
have failed.

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