Thursday, January 5, 2012

Consolidation phase to continue after huge upmove

NF Daily chart
Today's developing JNSAR is 4690. So Nifty should protect this for today as Lead indicator suggests highly overbought in hourly chart. Still immediate support is 4723 and resistance is 4780(yesterday's high). As long JNSAR(4690) is protected we can see more upside upto 4815 intraday basis.



TT Data has been updated.

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1 comment:

  1. AnilEttigiJanuary 5, 2012 at 10:08 AM

    Consolidation phase will continue until it gets some support from Europe market. Othewise market will take U turn and end with some Choppy trading session.
    And also, getting some good signals from RBI to loosen some Monetary policy.But not sure when it will happen.If good news comes on Right time then Market will see some upside move..

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