Saturday, November 24, 2012

Nifty View for week staring at 26 Nov 2012

Nifty spot just moved as we have mentioned in our last post, it took support at our support levels dot to dot. and took resistance and 20 Days EMA at 5648. Now next hurdle for nifty spot is 5670 and it will be on the finger tips of bull only is sustaions above this levels. However on daily chart it shows a DOJI followed by a Hanging-man, suggest a bearish sentiment.  So my preference will be to short with a stop loss of 5670 spot.

Support : 5600-5548-5490-5432
Resistance : 5670-5710-5806-5896

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