Nifty broke all the supports including the crucial one at 4370. It bounced back from the crucial support trend line, though it broke the line it came back after consolidating for some time just below that yellow line which I have mentioned in this post. Later it came above all the resistances and it closed at the days high, also just below the resistance levels. On intraday basis, it got quite a few resistances as marked in the above chart.
Nifty Chart - Hourly:
On the higher side 4510 may act as good resistance, above which 4540 may be on cards. 4540 is minor resistance for Nifty on hourly charts if it is broken 4570 is the next resistance.
On the lower side 4425 is the initial support, below which 4388 may act as next major support. I am not expecting Nifty would break the support of 4388 levels going by global cues.
3 comments:
Doji,
In ydays chart was a wolfe wave formed in the 5 min chart..I traded the breakout succesfully.wanted to check whether it was a lucky fluke?
hi doji good afternoon, I am trying to download tick data from your site from 23rd april to till date I have to test some system.There is no problem while downloading but after downloading csv file doesnt contain any data.The latest data doesnt have any problem but old one from april have some problem.Some file unable to open.Plz kindly check it & help me.Kindly provide me some source where can I get IEOD.
Hi viju... u may be facing problems because u have to use a software called "7zip" to unzip it.The normal winzip or winrar programs won't work.After installing "7zip" right clik on the file---openwith---7zip--7zip file manager--click on the extract symbol..done :)
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