5 DAY EMA AND SPINNING TOPS
NIFTY CHANNEL
NIFTY INVERTED HEAD AND SHOULDERS
- Nifty as you can see in the first chart is trading above the 5 day high ema.
- On friday it was a negative day but still managed to close above the 5 day high ema.
- The candlestick pattern that formed on friday was a SPINNING TOP Since it has come at the top of the current move it is slightly negative.
- Nifty is moving up in a channel and right now sitting at the top of the channel.
- The INVERSE HEAD AND SHOULDERS break out target for nifty is well above 5400.
- With the global markets support nifty should be moving ahead. The beginning of next week may see some pressure coming which will be supported by number like 5220 and 5180.
- INVERSE HEAD AND SHOULDERS
- SPINNING TOPS
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