bijoy2526

CAN NIFTY OVERCOME THIS SHORT TERM DOWN TERM?

NSE:NIFTY   Nifty 50 Index
nifty and bank nifty were trading in narrow range today.
most of the f& o stocks too were trading in narrow range today..
nifty was unable to take out slanted trend line today and closed below 50 dma.
volatile movement expected tomorrow and ultimate movement will decide the direction of nifty .
positive today was nifty able to close above the median line of pitch fork.
if nifty takes out the slanted trend line upward movement may continue.
appreciable movement of nifty ,bank nifty and most of the f&o stocks expected tomorrow.
nifty is now hovering around its near resistance which is at 12138.further resistances are at 12184..12233,12276
support for nifty are at 12062,12022 and 11993.


Comment: heading should be short term down trend.

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