June 23, 2012

NIFTY Weekend update


  • Price closed the week above 5 Week EMA and 50 Week SMA thus sustaining momentum with the bulls.
  • Now everything again comes back to the crucial resistance levels between 5180 - 5210. Weekly middle bollinger band at 5200, 50% Fibonacci level at 5200, 100 Day SMA at 5197, and a crucial support resistance band near 5180. For bulls the bullish engulfing in weekly chart is still valid although it had not given a follow up price structure still looks good for bulls. 
  • Daily close above 5200 will favor bulls.


By at

5 comments:

  1. Arvind JainJune 23, 2012 at 3:02 PM

    Sir Thanx A Lot For Accepting My Request For Adding Value For Each Level You Mention For SMA & EMA .

    ReplyDelete
  2. BuntyJune 24, 2012 at 4:42 AM

    Best analysis as always, also many thanks for adding value to each level.

    Regards,

    ReplyDelete
  3. SanJune 24, 2012 at 9:42 PM

    Thanks Arvind and Bunty for the suggestions.

    ReplyDelete
  4. UnknownJune 25, 2012 at 10:44 AM

    A nice analysis as always. :)

    ReplyDelete
  5. SanJune 25, 2012 at 11:01 AM

    @Debdeep
    Thanks for the comment

    ReplyDelete

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