Nifty chart analysis

 

 

• Nifty daily shows a bearish engulfing pattern But price continues to remain in a range. Only if price trades below the range the bearish engulfing pattern will be effective.
• MACD and price is starting to diverge negatively. This also need price confirmation by breaking below the range.
• Month chart continues to remain strong But price is trading near strong resistance zone near 8654
• GOLD SUPPORT AND RESISTANCE LEVELS

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CRUDE Oil chart update

• 4 Hour triangle has resolved in favour of bears But for them price need to stay below 44.40 levels on closing basis.
• Daily chart too shows price at 100 SMA. Crude bears need a daily close below this line to avoid a reversal from this moving average.
• GOLD SUPPORT AND RESISTANCE LEVELS

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