Fall in the China's market have finally starting pinching the global markets too. Shanghi markets fell by 6%. Global markets too faced the trail. Indian markets fell the most in 3 months. Nifty closed down below its support levels of 4440. Last week Nifty too support at 4440 levels and bounced back sharply. But yesterday Nifty closed below the same. IN the chart we can see that the Nifty had closed below its 2 parallel trendline. The same thing is also witnessed in the RSI trend also. If today also Nifty closes below 4440 levels, then 4200 in Nifty can be felt. Nifty took support at the the 50DMA. Nifty will face stiff resistance at 4440 levels.
Tuesday, August 18, 2009
==>> Shanghai the new concern
Fall in the China's market have finally starting pinching the global markets too. Shanghi markets fell by 6%. Global markets too faced the trail. Indian markets fell the most in 3 months. Nifty closed down below its support levels of 4440. Last week Nifty too support at 4440 levels and bounced back sharply. But yesterday Nifty closed below the same. IN the chart we can see that the Nifty had closed below its 2 parallel trendline. The same thing is also witnessed in the RSI trend also. If today also Nifty closes below 4440 levels, then 4200 in Nifty can be felt. Nifty took support at the the 50DMA. Nifty will face stiff resistance at 4440 levels.
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