March 27, 2012

NIFTY and India Vix Analysis

  • Price is near the support line of the descending triangle which may result in a bounce.
  • For the bounce 5250 and 20 Day SMA will be resistance levels. Another hit at the resistance line will make a good descending triangle.
  • Week MACD looks good for bears but price refuses to close below 50 Week SMA.
  • India VIX is near the resistance line. If VIX starts to correct we may see a decent bounce in Nifty.
  • S&P 500 EOD UPDATE
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