Sunday, June 13, 2010

Nifty analysis...June 14....




A bit complicated chart ( too many lines ), but there is a symmetrical triangle - hence looking for direction, and a developing wedge. Upper side, there is resistance at 5135, 5165 ( approx where 50DMA and the 5300 highs line ) and 5215 ( clusters were formed in previous runs ). Supports seem to be at 5080, 5050, 4960. If we get to 5165, a higher level inverse-H&S also seems to forming.






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