August 13, 2012

NIFTY and VIX Chart analysis




  • Nifty week stands above the weekly cloud. Bulls need a resistance line breakout for extending the up move.
  • Confluence of resistance around 5370 - 5390 with the resistance line and 100 Week SMA. Weekly close above this zone will suggest strength for bulls.
  • The cup and handle pattern looks valid and will be effective on trading above 5400. 
  • India VIX Shows positive divergence and need a close above 20 SMA for a possible up move.
  • SBI CHART ANALYSIS


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