April 17, 2017

NIFTY Chart analysis

  • Nifty daily is testing 20 Day SMA after a long GAP. It was at 8100 last when price met 20 Day SMA Which shows how smooth and strong this up move was.
  • Weekly MACD is poised for a sell But this is based on price action. So bears need price to stay below 8950 - 9000 levels for bigger correction to follow. Bulls remain safe above this zone.
  • Daily time frame has been diverging for a long time now. Bears hoping for bigger things to follow in the coming Days.
  • INFOSYS Technical Analysis

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