Wednesday, April 20, 2011

Nifty Is this a bullish flag formation?

Nifty hourly chart shows a bullish flag formation.

The index maintained bullishness by staying above the 50% retracement levels.
Volumes also picked up in last 2 hours today near the upper end of channel.

Any sustained breakout from the channel is a straight buy as the weekly color is still a Buy.


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