September 29, 2012

NIFTY Weekend update


  • NIFTY Month chart shows price closing above 20 Month SMA and 5 Month High EMA after many months of failed attempts.
  • Weekly chart testing previous resistance level of 5735.
  • Daily chart continue to sustain above 10 Day EMA. Daily candle looks similar to a shooting start not perfect but looks bearish, One negative for bears here is that price closed above 5 Day High EMA.
  • Crucial levels in daily time frame is shown in last chart.


By at

4 comments:

  1. ManishSeptember 29, 2012 at 1:18 PM

    San

    Your stuff is always Gr****8.

    Thanks and Regards Always !!!

    ReplyDelete
  2. SanSeptember 29, 2012 at 2:30 PM

    Thanks for the comment Manish

    ReplyDelete
  3. SanjaySeptember 30, 2012 at 11:33 AM

    @San,

    Brilliant Charts and perfect conclusion...

    ReplyDelete
  4. SanSeptember 30, 2012 at 12:27 PM

    @Sanjay Jaiswal

    Thanks for the encouragement.

    ReplyDelete

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