Thursday, February 5, 2009

BEARISH CONSOLIDATION PATTERN

Nifty is moving sideways with buying coming at lower level and selling at higher level in a bearish pattern though everyday it is trying to make marginally higher highs and higher lows. Trend line support below is NS 2787 and resistance NS 2832-2863. Toady's pivot is NF 2792 with resistance at 2801-2820 and support at 2762-2743. NF has to trade over 2817 for upward move and is waek below 2780.

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