December 30, 2014

NIFTY Chart update



  • NIFTY Daily stuck in an ascending wedge like pattern as shown in first chart. Till price stays within the boundaries the steady up move is likely to continue
  • Ichimoku cloud shows price testing it twice in the recent past. Bears need price to sustain below the cloud for bigger breakdowns to happen.
  • MACD Shows a possible buy signal coming But this can be a trap for bulls. Its better to look at the price levels to confirm strength and weakness.
  • Last chart shows immediate resistance levels in 20 and 50 Day SMA.



By at

3 comments:

  1. UnknownDecember 31, 2014 at 6:00 PM

    sir.thanks & happy new year

    ReplyDelete
  2. FoyezJanuary 4, 2015 at 2:20 AM

    This comment has been removed by the author.

    ReplyDelete
  3. FoyezJanuary 4, 2015 at 2:21 AM

    very good analysis i agree with ur view
    http://niftymoney.org

    ReplyDelete

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