Free Stock market / Nifty intraday tips

Nifty Spot Updated on 23.02.13

Nifty Spot

Nifty is likely to hold the support in 5825-5840 region.

In this case it may pull back up to 5950-5970

and will form head and Shoulder pattern

which has bearish implication.

14 Period Stochastic and RSI is in oversold zone.

If shows more power than this pullback may

extend up to 6017-6030 where long term

rising trend line may stall the rally.

This up move will form another right shoulder.

In case Nifty breaks and closes below

5820 then nonstop slide up to next downside

support at  5750-5735 which is 

 23.60 % Fib retracement level.

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Mr.Guru is a registered investment advisor for Moneymunch, he is a regular guest on popular channels and writes for several newspapers and financial journals. They've black magic of stock market analysis because studied charts over 20 years.

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