Still a gap near 4090 left unfilled which may act as a intermediate as of now.
Failing to close below 4090 may target nifty towards 3800 once again.
Hourly Charts
As per the houly charts nifty retraced 38.2&(fibonacci) from its recent high 4303.
And also stochastic looks highly oversold.And RSI is still in rising mode from the with a retracement upto 50%. So a possible upside rally may extend upto 4225. And on the downside Support comes near 4120-4090 range. And any closing below 4090 will strictly take us to 3800 levels
Related Readings and Observations
iGuideStocks – NSE EOD and Intraday Trading Software Review iGuidestocks is basically a trading analysis software comes with two different flavors. 1)India Market with Zero Delay Data and End of Day Data 2)United States, Canada, Australia, UK, […]- Nifty and BankNifty 90 min charts update for 15th Mar 2011 Nifty turns to buy mode with cloud supports coming near to 5460-5470 zone. And Bank Nifty still in sell mode with resistance near 10900. Go long in Bank Nifty above 10900
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