- NIFTY Day shows price stopping at 100 SMA for now.
- 20 Week SMA and 4 Hour charts doing the same for Nifty bulls.
- Bulls need a weekly close above 20 Week SMA Failing to do so may result in a fall towards the lower bollinger band, Which means another test of 200 SMA.
- One positive for bears is that if too many feel the resistance is strong then the counter trade is possible.
March 14, 2018
- PIN BAR at the upper bollinger band is followed by a bearish candle. But it was not easy for bears, The long upper shadow of the Daily candle did hit some stop losses.
- Now bears need follow up by breaking below 50 Day SMA. For a bigger bearish swing to happen price must fall below 50 Day SMA on closing basis.
- One hour is trying to protect cloud base. More weakness for the day if price stays below 2762 levels.