Nifty Daily Analysis
- Weekly charts are keeping options open for both bulls and bears.
- Things may get resolved with today's closing. at least i am hoping it gets resolved because sideways market does not give much profit.
- MACD in weekly chart will give hope for the bulls.
- A bearish looking candle is developing on the resistance line which is keeping the bears interested.
- Nifty has maintained its position above 5 day EMA till now. Closing below this moving average and 5830 level will favor bears.
- Breaking above the recent high will favor bulls and then the weekly MACD will show its effect.
- A possible resistance level for DOW JONES
Well, Stochastic also has given a sell signal so possibly MACD is a looser this time.
ReplyDeleteweekly looks like a buy but daily is OB
ReplyDeleteAlso yesterday future closed below 5 day MA and now at atound 5925 fu it's getting resisted.
ReplyDeleteSan,
ReplyDeleteThis is my first time at your blog and think it is great. There is a real lack of in depth Asian Technical Analysis and looks like you are filling this void.
Agreed that the Nifty is facing some headwinds here and there was a strong rejection on the 6th. I am looking for a pullback to 5800/5850 on the April futures. I do think we have seen a very strong base/breakout pattern thus looking for buy setups at those levels:http://swingtradersedge.blogspot.com/2011/03/asia-top-setups.html
Thanks
Austin
And finally the break down.
ReplyDelete@Debdeep I think this is merely a corrective move lower within a bigger uptrend. Looking for a breakout of this short term flag for strong swing higher: http://swingtradersedge.blogspot.com/
ReplyDelete