Date: 12 - April - 2012
Synopsis:
Considering the above mentioned points, here onwards 5220 has to be considered an important support for the month and closing above 5335 will take Nifty to the new high of the 52 weeks.
Synopsis:
- A consolidation period of 34 sessions after a bull-run of 35 sessions.. On 22nd Feb Nifty spot made a high of 5630 and then onwards have been in phase of a consolidation.
- 200 Day Simple Moving average is placed at 5146 for the Nifty spot. The 200 Day Exponential moving average is placed at 5227 which will be very important support now.
- As seen in the above chart the resistance is placed at 5335 for the nifty spot. A closing above 5335 should be considered as a break-out from the on-going consolidation.
- The volatility has been neutralized during this consolidation. The volatility index is at its 3 years' low now.
Considering the above mentioned points, here onwards 5220 has to be considered an important support for the month and closing above 5335 will take Nifty to the new high of the 52 weeks.
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