Nifty trend turns from negative to positive.But still the upside looks capped
5 Day EMA Support : 2744
5 Week EMA Resistance : 2804
20 day EMA Resistance : 2823
31 day EMA Resistance : 2860
Nifty have to breach a series of resistance zones 2804,2823,2860 to return
to normal bullish view. Failing to close above 2744 is a clear breakdown signal.
Related Readings and Observations
Nifty and BankNifty 90 min charts update for 24th Mar 2011 Nifty turns to buy mode yesterday with cloud support coming near to 5388-5400 zone. Bank Nifty too turns to buy mode finally with supports coming around 10750-10800 zone
Gold Trending Down? Daily charts of Gold Charts(Dollar Denominated shows that Ichimoku Cloud resistance near 1225-1245 zone.
Outlook for the Gold looks trending downwards in medium term.
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