September 30, 2010

Nifty daily analysis

  • Nifty is not able to close above 6035 levels.
  • Index is facing selling pressure at higher levels shown by the upper shadows of the candles. Sometimes these show the exit of smart money before big corrections. But nifty hasn't breached important levels for the bulls to get worried. One of the criteria can be a close below 5 day low ema. But one word of caution is that 5 day low ema has acted as support zone also. So one should have tight stop loss for going short especially because of the prevailing trend which is up.
  • As said above a only firm close into the selling zone of nifty that is above 6035 can take nifty to new high's.
CHARTS POSTED TODAY

    3 comments:

    1. Thanks a lot for the incisive analysis. It is certain adding value for us.

      ReplyDelete
    2. It was a very nice idea! Just wanna say thank you for the information you have shared. Just continue writing this kind of post. I will be your loyal reader. Thanks again. and welcome to my Blog:


      FREE INTRADAY TIPS

      ReplyDelete