April 16, 2010

NIFTY Technical analysis for 16th april 2010

  • NIFTY spot has just managed to close outside the upward moving channel
  • MACD has already given a sell.
  • 5 EMA is now below the 7 DMA its time to go short
  • 5180 is a good support zone.
  • 5220-5235 may act as a minor support zone.
thank you
take care

SUZLONE Weekly Triangle

  • SUZLONE Weekly triangle is yet to give a direction
  • 70 to 71 good support zone.
  • below 71 it may go down till 69.
  • right now it is moving sideways within the weekly triangle
  • take a look at the weekly MACD it is moving side ways from july last year.
  • and the volumes going down every week.
  • if you are holding long positions be patient, we may see some action in the coming weeks. have strict stop loss at 67. 
  • A daily close below 67 is danger for the bulls.
thank you
take care