Tuesday, November 24, 2009

Nifty's intra weakness & firm close..

Nifty trending up in the channel, keeping above 5DMA with intra day corrections.. A daily close below 5063 would be a first weakness. Channel supports come around 5022(Weekly Pivot).

Intra weakness was noticed at the 10.00AM itself and Nifty moved towards 5 ema @ 5051 and bounced off it, retracing most of the fall & then fell towards the end, keeping the "Hourly momentum" down & Daily momentum escaping with average close calculations..
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