September 17, 2015


  • Nifty for now is likely to move between 100 week sma and the GAP. For bigger direction one of these levels must be broken on closing basis.



  • Bank nifty support levels continues to move lower. Current bounce may not move above the GAP area. But for a bigger fall price must close below 100 Week SMA. 



  • Week chart shows positive divergence. Month chart trying to stay above 200 Levels. Daily needs to stay above 50 day SMA for bigger up moves to happen.




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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore