June 20, 2012

NIFTY Chart Analysis



  • Bearish engulfing does not get a follow up. Bulls getting support at 5 day Low EMA.
  • Weekly bullish engulfing is still intact. Bears getting resisted at Middle Bollinger band ( 20  Week SMA ).
  • Nifty getting resisted at the crucial 5180 zone and getting support at the falling resistance line which was broken.
  • Price got resisted at the top of the cloud. For a trending up move bulls need a cloud breakout



By at

3 comments:

  1. Nilesh PatilJune 20, 2012 at 8:09 AM

    @SAN sir,
    Request you to please draw the upper trend line on monthly chart. it is still intact. I didn't understand how it shows difference between daily and monthly?

    ReplyDelete
  2. SanJune 20, 2012 at 11:21 AM

    @Nilesh Patil
    I will show the monthly resistance line in another post. For now the line is still intact.

    ReplyDelete
  3. nifty.senseJune 20, 2012 at 4:44 PM

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    ReplyDelete

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