December 30, 2014
- 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.
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