May 25, 2011

Nifty Daily Analysis

  • Nifty is forming a consolidation pattern in daily chart. 
  • Staying above 5343 - 5348 on closing basis will favor bulls. Closing below this level will favor bears.
  • Chart is showing a bearish cross and 20 DMA acts as good resistance on a down trend. So for an up move to happen bulls should try to go above 20 DMA.
  • 78.6% is an important support level on a correction.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
By at

5 comments:

  1. chetanMay 25, 2011 at 9:38 AM

    good morning & thank you very much for sharing your views.
    good day.

    ReplyDelete
  2. niftyMay 25, 2011 at 9:52 AM

    San,

    Thanks for your charts.

    I think there is a mix up with the S&P 500 numbers.

    "Staying above 1343 - 1348 on closing basis will favor bulls."

    does not make any sense for Nifty.

    ReplyDelete
  3. PANKAJ SHAHMay 25, 2011 at 10:24 AM

    dear
    take it as 5343-5348

    ReplyDelete
  4. SanMay 25, 2011 at 10:26 AM

    Thanks nifty and pankaj564. It is 5343 and 5348

    ReplyDelete
  5. SanMay 25, 2011 at 10:30 AM

    @nifty
    Today's analysis was done early morning 3 A.M after U.S markets closing. As a result the S&P500 numbers got mixed up.

    Sorry for the inconvenience

    ReplyDelete

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