Nifty Daily Analysis

• Nifty Week chart is showing Negative price action. Last chart shows price getting resisted by the Golden ratio. This is the 4th weekly candle which is attempting to close above this ratio But bulls it seems will not be able to do this time too.
• Price has broken 20 day moving average and by the looks of things it will test 200 DMA shortly. On weekly closing basis Nifty may get support at 20 week moving average. Breaking 20 week moving average on closing basis will favor positional bears.
• DOW JONES MONTHLY CHART LOOKS BULLISH