NIFTY DAILY CHART
- Nifty has a raising wedge in daily chart. And the price is respecting the trend lines till now.
- The index is still trading above 20 day moving average. One negative factor is the closing below 5 day high ema.
- But it is still not a sell on rally because price has remained above 5 day ema(close) and after 8th july price is yet to visit the 5 day low ema.
- One more thing we should consider is the weekly candle with long upper shadow which will end up as a bearish candle if it closes like this.
- DOW JONES END OF DAY ANALYSIS