GEPL Technical view on Nifty – 28th March 2011 (video)

Nifty Futures closed at 5674 which is 128 points higher than its previous close of 5546. In last 5 trading sessions it has rallied for 336 pts. Last 2 trading sessions upward price gap opening is seen suggesting fresh buying coupled with hectic short covering. On the weekly charts massive gain of 299 pts is seen. Now the strong resistance zone is placed at 5760-5810 As weekly close is above 5600, the short term trend is changed in upward direction and the reversal level is placed at 5490 on closing basis. Now the intraday resistance levels are placed at 5720 and 5760 whereas the support levels are placed at 5630 and 5560 respectively. Ioc Fut for Oneday @ 312 sl- 300 and trgt 324 Breakout from Falling Wedge Pattern RSI is turning upwards Today’s closing is seen above resistance trendline


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