Monday, March 25, 2013

Nifty near 200dma - 5621

Dear All,

>click the chart to see on full screen<

Nifty fell down from 5701 to 5624 after reported that Uttar Pradesh chief minister Akhilesh Yadav said that his party is prepared to withdraw support to the UPA government.

As shown chart 200dma and 78.6% Retrace of Wave A Lies at 5621. Support like 5590 or 5580 should protect below 5621. If breaks all these support then possible down upto 5527 and 5475.