June 7, 2012

NIFTY Resistance levels

  • Nifty has a possible bullish engulfing pattern which will be confirmed if price closes at the current levels or higher.
  • Price is moving into multiple resistance levels. 5 Week High EMA, 200 Day SMA and 50 Day SMA and a falling resistance line shown in last chart may act as resistance levels.
  • If all goes well for bulls they may target 5150 - 5180 levels in the short term.
  • S&P 500 EOD UPDATE


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6 comments:

  1. durgaJune 7, 2012 at 8:46 AM

    sir,very good charts.please give the numbers also
    eg--5wk hema,50 s.m.a etc, in brackets.that way your analysis is most useful thnak you.

    ReplyDelete
  2. aishwaryaJune 7, 2012 at 8:46 AM

    thanks for the wonderful analysis

    ReplyDelete
  3. PrabakarJune 7, 2012 at 8:54 AM

    Good Morning San.

    Hope if this upmove continues then a possible chance of Fast rise with 50SMA moving up again without death cross.

    Thanks & Regards,
    Prabakar

    ReplyDelete
  4. SanJune 7, 2012 at 10:15 AM

    @Prabakar
    Fast rise will be great because price has to move up in a straight line from here for that. Similar thing happened in USDINR recently.

    ReplyDelete
  5. SanJune 7, 2012 at 10:15 AM

    Thanks Durga and Aishwarya

    ReplyDelete
  6. stock tipsJune 7, 2012 at 3:39 PM

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    ReplyDelete

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