August 21, 2011

NIFTY Weekend Update

  • Trend of nifty is still down.
  • No reversal pattern in sight yet.
  • Daily indicators are still strongly favoring bears.
  • But this is an extended fall so if price reverses we may get a decent bounce.
  • So one shall look for reversal candles in daily time frame next week to go long. 
  • Price should also stay above the channel drawn in daily time frame for a decent bounce to happen.
  • It is difficult to pick a number, But the level one has to watch is between 4750 - 4800.
  • SUZLON ENERGY ANALYSIS
  • S&P 500 WEEKEND UPDATE

4 comments:

  1. Hi anoop, great analysis as always, but i suppose there is a typing error on the first chart instead of 4711 and 4757 it is writen as 5711 and .....

    ReplyDelete
  2. @parminder

    Thanks,

    I will change the values there

    ReplyDelete
  3. @parminder

    Changes updated.

    Thanks for pointing it out.

    ReplyDelete