May 23, 2012

Nifty Technical Analysis



  • Nifty day could not sustain above 5 Day High EMA and did a bearish engulfing pattern. Relevance of bearish engulfing may not be that much as it has come in a down trend. If price is able to break below 4849 and 4788 we might see this pattern working well.
  • Month candle is testing 50 Month SMA. Positional bears would like to see a close below this level to target 4531.
  • For bulls strength only if price is able to trade above 5 Day High EMA and 4950 level.
  • S&P 500 MONTHLY CHART

1 comment:

  1. Thanks for taking the time to discuss this, I feel strongly about information and love learning more on market.
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