April 16, 2015

NIFTY Chart analysis

  • Nifty daily candle shows weakness. 
  • Daily RSI is not yet overbought. Recent signals of RSI were clearly from Overbought or Oversold levels. But this one looks different and needs more confirmation. First line of Defence for bulls is 50 Day SMA. So bears needs to close below this line to confirm bearishness.
  • CRUDE OIL Bullish breakout attempt

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