Nifty opened gap up stayed positive above support till 12 then slipped in red.. here in this chart we can see strength of previous close blue horizontal line. When market was trading above it it was providing support and preventing further fall but when successful breaching was there at 12 noon it has changed its role and worked as roof/resistance see at 2.30 PM nifty price move was repelled back to red area . to learn more on subject please visit http://dhanvarshagrp.blogspot.in/2010/02/role-of-close-price-in-next-days-price.html
Change of role from support to resistance
Change of role from support to resistance
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