Hi friends
As I said last day …that the previous close works as support/Resistance level for price move ….If price is above the close price …then close price …plays the role of support level …if price moves below the previous close …then the level changes its role…means now it will play a role of roof /resistance to price move… as you can see in the chart and analyse yourself...
Can ask me for detailed material on pivot points , support/Resistance levels… with charts on the subject.
please read http://dhanvarshagrp.blogspot.com/2010/02/only-profits-no-loss.html for profit every day .
See here on 23 rd Feb close price again proved its role see here
See here too its role ...On 24 Feb 2010 too Nifty was not able to breach previous close price level once moved above in morning session and 10 attempts are there by bulls and bears to breach it but in vain and finally bears have proved that they are still in power …
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