Technical Analysis of Indian Equities by Nooresh

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Nifty – Trendline and gap support at 5450-5520

nifty5450

 

A post after a long time as had been busy with some family functions πŸ™‚

 

Looks like Nifty should find support around 5520-5450. The last attempt towards 5800-5850 failed to make new highs gives a signal for more sideways period to come.

 

This is the 4th attempt at the trendline and a dip below it can be possibly be a trap. The medium term trend remains with a re-test of breakout.

 

The medium trend long bias will come under review below 5350-5400. Midcaps have been performing better indicating good strength.

 

Regards,

 

Nooresh

Article by Nooresh Merani

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{ 1 comment… add one }
  • Deepak November 19, 2012, 11:01

    Congrats for your wedding !!! Have a great time .. Cheers !!!

    Reply

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