Nifty Technical Chart | 29-Feb-2012

Below is the technical chart of Nifty, using Ichimoku Kinko Hyo indicator.










Last 2-3 days in Indian stock market were very volatile. Nifty down by over 2% on one day and another day up by about 2%. Looking at technical chart, Nifty closed below kijun-sen line, but next day, managed to close above it.  5586 remains the resistance on the above side. 

BTW, apart from looking at technical charts, do investors also check Nifty P/E ratio? Will write an article on that soon.

Nifty Technical Chart | 29-Feb-2012
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