Today is crucial to save 5257=34DEMA

NF Daily Chart

Today it is crucial for NS to save 5257 which is 34Days Exponential Moving Average. If Nifty able to hold 5257 in the morning session then NS can move up to 5332 which is the Daily Pivot. If you refer my early blog, I have mentioned in earlier post on 22nd February ( http://niftytechnicalsonly.blogspot.in/2012/02/nifty-futures-are-in-very-much.html ) that NS may go down to 5200 level from 5630 level . RSI is still in midpoint, so possibilities are there to go down to oversold level and then a bounce. Below 5257, 5213 can be seen, which is 38% fibo retrace of the rise from 4532 to 5630.



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