NIFTY Weekly Update
- NIFTY MACD and Stochastic in daily time frame is showing some support for bulls. But for bears they have the upper boundary in place in the form of 20 Day SMA. Month Low EMA etc. So price need to break these levels on closing basis to continue this up move.
- For Bulls the lower boundary is Week Low EMA and 50 Hour SMA. Breaking below these levels will favor bears for a short trade. Fall might pickup momentum below 4632 levels.
- Week Low EMA at 4688
- 50 Hour SMA at 4666
- Month Low EMA at 4713
- 20 Day SMA at 4806
Hello sir,
ReplyDeleteI just spend hours browsing in your articles there are super great analysis.
But sir how to draw conclusion from your charts for buying and selling the nifty. Please guide me sir
Regards,
Imran
@imran
ReplyDeleteOne should have a system in place to trade nifty for example the 5 day and Low EMA system followed in Just nifty. If you don't have a system it's difficult to draw a conclusion from any analysis.