July 6, 2010

Nifty daily analysis

NIFTY DAILY WITH MACD 
NIFTY DAILY CHART WITH TREND LINE
  • The first chart showing top formations of recent times and the current price actions which i believe has formed the top and is waiting to fall.
  • Just like the previous two occasions the MACD gives a sell and in recent times in daily charts this indicator has been working well.
  • An important trend line in daily chart has been violated but there was no follow up action.and the charts are also showing a broadening formation too. 
  • MACD can give a whipsaw so any daily close near the high of the current top should be a warning for the bears so keep stop loss accordingly. 

No comments:

Post a Comment