Wednesday, January 9, 2013

Nifty likely to continue going down

With a negative close today, Nifty gives ever more bearish signs with yet another divergence and a bearish candlestick pattern.

Resistances will be 6025-6050.

A convincing close above 6050 can see a further upward movement in Nifty going forward.

Supports on the lower side 5950-5920-5890....

Nifty bias remains negative with the resistance as the reversal level.



Cheers


Hrishi

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