Eagle Eye Analysis Nifty for 10th Aug 2011
NIFTY RSI Oversold
Today's Nifty opened with gapped down below the support trend line and made a low of 4946, thereafter bounce in upward direction and making a high of 5167 and closed the day @ 5072.85 down by 45.65 point. Technical indicator RSI indicate oversold as well as Nifty closed above the support trend line. On lower side interim support expected around the support trend line and Fibonacci Retracement levels 38.2% i.e. around 4885. If Nifty sustain above the two major supports then the up move will continue where the resistance is seen around 5320-5380.
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Trade with STOP LOSS only
NIFTY RSI Oversold
Today's Nifty opened with gapped down below the support trend line and made a low of 4946, thereafter bounce in upward direction and making a high of 5167 and closed the day @ 5072.85 down by 45.65 point. Technical indicator RSI indicate oversold as well as Nifty closed above the support trend line. On lower side interim support expected around the support trend line and Fibonacci Retracement levels 38.2% i.e. around 4885. If Nifty sustain above the two major supports then the up move will continue where the resistance is seen around 5320-5380.
Trade with STOP LOSS only
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