May 17, 2010

NIFTY Weekly chart trendlines

NIFTY WEEKLY CHART
  • It seems a close below today's low will take nifty to 4850 levels. 
  • 2nd trend line was violated briefly but managed to close above it. So only a weekly close above the 2nd trend line can save nifty.
  • If it breaks and closes below the 2nd trend line nifty will surely go down till 4850 minimum.
  • Breaking the 3rd trend line(around 4853 for this week) will be very negative news for the bulls.
thank you

5 comments:

  1. hello san
    i am ur big fan
    please keep posting ur views not only ur own blog but on i lango sir s blog as well by time to time
    in the meantime, if u get to check andhra bank , ashok leyland and axis bank, please take a fresh views, i hav got trading position in all of them at higher levels, and then ur lower nifty levels posted today is creating panic to me,
    please mail me stockngains@gmail.com

    ReplyDelete
  2. @rochak
    I have sent a mail to you. Please reply to that at the earliest

    thank you

    ReplyDelete
  3. Your analysis is very clear. Good work, San. Love the chartwork!:)

    ReplyDelete
  4. Thank you
    Yoda and Wormwood34

    ReplyDelete