Wednesday, February 1, 2012

NIFTY: RESISTANCE BREAK ?

today nse index had show breakout movement at resistance at 5200 Data shows

  • 25 oct 2011 high 5211 volume 221,084,588 after that market again went to lower level
  • 27Jan 2012 level 5217 volume 215,923,377 market lost more than 100 point  on 31 Jan2012 
now look in both cases volume is 221,084,588 and 215,923,377there is not more than 10% gap 
  • now today on 01feb2012  closing at 5235 and volume is 552,000,000 some what near this 
  look at this 221,084,588*0.1 = 22108458
  • this is 10 % of volume that shows resistance 
  • this seem
221,084,588 +22108458 =  243,193,046


volume greater than 243,193,046 and closing above 5230 is technically break out of resistance 


now what happen tomorrow is gap up is confirmation of break 
because remember last time this level was broken  very panicky with gap down opening during US debt crisis talk 


technically this look like break of resistance 


but last time also this level breached by gap up opening 


we will see tomorrow what will happen 


If this is break or not?

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