March 14, 2015

NIFTY Weekend update



  • Weekly chart shows price moving towards 20 Week SMA. 20 Week sma is around 8546
  • Daily chart shows price closing below 50 Day SMA. Next crucial moving average is 100 Day SMA. 100 SMA Was tested twice recently and saved bulls both times.
  • Daily chart also shows number of engulfing patterns. Latest Bearish Engulfing looks perfect 
  • Month chart is also moving towards an Engulfing pattern. Price breaking and closing below 8470 will strengthen bears.



3 comments:

  1. Your chart explanations are always superb,most simple crystal clear like super fine glass.Self speaking at a glass,it is well said a picture worth a thousand word in true sense.

    ReplyDelete
    Replies
    1. Encouraging Words They R
      Thank U Tahkkar

      Delete
  2. Thanks very much sir....information is accurate :) lets wait for 100 Day SMA is breached or not and more over 18 we have US FED rate cut decsion

    ReplyDelete