Wednesday, March 3, 2010

Finally it closed above 5080.

Finally it closed above 5080. The next resistance is at 5181. You can see from the chart, the importance of 5181. Three times it acted as Resistance and Support. And also, this is the point, from where the breakdown started. Hence this is more important than 5080. Of course, resistance does not mean that it cannot be breached. Only time can tell. Till then we have to keep our fingers crossed.

Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.

MASTERSTROKES