Wednesday, 25 April 2012

NIFTY (25 April,12- intraday update) : failure of 5241 is inviting trouble



Intraday update:
Above is 10 minutes chart of NIFTY spot. Very cleary, it is missing major resistance of 5241. I am already highlighting the importance of 5241 from yesterday.

Turning shy from 5241 can turn as short signal any point. I am short from 5232 on NIFTY FUT with my small SL @ 5242. 

Fall can be up to 5150 or 5135.
Contracting triangle can do wonder.
Hope at least you are not in long,

Have a good day,
Praveen Kumar

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