January 14, 2012

NIFTY Weekend Update

  • NIFTY Daily managed to close above 50 Day Simple moving average not by a big margin though.
  • Bulls have managed to close the day and week above the falling wedge pattern which is good for them. For the coming weeks its simple for bulls they just need to protect 50 Day SMA on closing basis. 
  • Bears need a false breakout. So price falling back into the pattern will give them big gains.
  • Weekly chart too has ended the week slightly positive. Price managed to close above 5 Week High EMA. 20 Week SMA is the next resistance seen in weekly chart if price manages to move up.


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3 comments:

  1. AnonymousJanuary 14, 2012 at 10:54 AM

    Would you be interested in a link exchange? I have added your site to mine. http://marketsectors.blogspot.com/

    ReplyDelete
  2. Akash PatelJanuary 14, 2012 at 5:04 PM

    hi sam, as every time nice charts.
    you always forget to write values of averages, support and resistance!!!
    what do you believe about Friday doji/spinning top. is it s/o reversal of move? thanks for reply.

    ReplyDelete
  3. DhirendraJanuary 15, 2012 at 2:00 AM

    @tadhutabukalu

    I have started chart nexus recently and found that it did not allow to show averages on chart

    but yes i have also felt some concrete comment with this fine charts

    regards
    Dhirendra

    ReplyDelete

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