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Feb 26

TECHNICAL ANALYSIS BY NSFX 26.02.2014

By:admin

High:  Low: 

The index has been on a decent bull run since early February, but not been able to take out the 2013 top at 9794 (current Feb highs at 9733). The simple 21-MA on a 4h chart keeps the index supported along with 23.6% Fibo in the recent short term wave. Recent crossover of the 50-MA on the 100-MA on same time frame also indicates bullish buying pressure. Should 9733 be taken out, then we could see a move towards year highs. Oscillators in neutral.

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