NIFTY CASH LEVEL – DAILY CHART
If we talk about the Nifty, it has broken the last all time high of 6514.25 significantly on 7th March’14. There are so many reasons here to enter long in Nifty around 6300 level.
1) It breaks the 78.2 % retracement level of last Nifty High which is 6312 on 6th Mar’14.
2) It also broke the long trend line around 6280 and manage to close above that level.
3) See the Daily candle of 6th March’14, which is Doji at Top.
4) On 7th Mar’14 it breaks the strong resistance of 6360 easily which confirms the strong upside breakout.
NOW IT TIME TO CAUTION AND WATCH THE MOVEMENT IN COMING DAYS.
