Friday, January 31, 2014

Nifty seen Opening Higher[Bullish Hammer on daily charts]


  • Today's  session was a Gap-Up Opening.
  • Nifty is taking Support at 6070.
  • However It took Resistance on previous falling window at 6109.
  • There is Bullish Hammer in Nifty at its  support at 6040-30.
  • The further support at Nifty came at 5972.
  • 200 day S.M.A also stands at 5972.
  • In case nifty closes under 6030 support, bullish hammer will be discarded and new lows can be seen till 6000 , 5972.
  • However in case nifty succeeds to close above 6110, then levels of 6150, 6170 , can be seen.
  • Fibonacci Retracements levels  are depicted in image below: 


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