July 20, 2010

S&P 500 Trading below 20 DMA

  • S&P 500 is trading below its 20 Day Moving Average.
  • A daily close below this average will be negative for this index.
  • Last two times the closing below 20 DMA has given good results for the bears.

Nifty spot 30 minutes chart in a channel

UPDATED CHART - 3
UPDATED CHART - 2

  • Nifty 30 minutes chart inside a channel
  • It will give direction soon.
  • EDUCOMP SOLUTIONS LTD WEEKLY CHART

Nifty Futures with negative divergence

  • Nifty futures 4 hour chart is showing a fall after negative divergence
  • Now the close for today should be above this trend line for the bulls to be in a safer zone.
  • THE BROKEN CHANNEL OF NIFTY

Educomp Solutions LTD

  • Educomp had a nice up move for two weeks.
  • The stock is now approaching its weekly channel resistance.
  • Those who hold long positions should be careful.
  • But the stock if closes above the channel resistance can move till 690 levels too.

Nifty daily chart analysis



NIFTY FUTURES
  • Nifty spot daily chart is trading in a raising wedge and will give direction soon
  • Nifty is also trading between the 5 day high and low ema for the last 3 days without giving proper direction.
  • Nifty futures range is also contracting so i feel a big explosion is about to happen in the coming day's. May be the raising wedge will give an early indication to which side it is going to be.