Tuesday, May 8, 2012

NIFTY NEXT- Nifty EOD 08 May 2012 Technical Analysis & Out Look For 09 May 2012


Nifty-Spot today(08 May 2012) ended at `4999.95 with a fall of -2.20% after Hitting Days High at `5229.30 and Low at `4984.30. It Closes below its 200DMA `5125.01, making it more Bearish. Today it fights hard to sustain at the Upper Level, but failed. As per Daily Price Chart, Major Momentum Indicators are Bearish In Nature and Nifty may Slide Further to `4919 in Short Time Frame with Resistance at Upper Side at` 5062.
Editor’s Note : This Article is written by Vina S Singh, Senior  Chartist at  www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. You can reach the Chartist here mail@niftynext.com . We are Using Ami Broker Charting Software    ( V-5.51 ) ,Pattern Explorer & Ami Tool-Power Scan.
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