July 17, 2011

NIFTY Weekend update

  • Nifty is still stuck in between 50 and 200 DMA.
  • But indicators like MACD are suggesting some weakness in daily time frame.
  • Price just managed to close below 20 week moving average.
  • If price continue to stay below 20 week moving average we may see an extended correction. 
  • MACD is about to trigger a sell. Bars have reached near zero. So if price confirms by breaking the recent low(5496) we might see good down move in favor of bears.
  • On the contrary if the low 5496 is held and 200 DMA is not broken then we might see another pause week without any major action.
By at

2 comments:

  1. PrabakarJuly 17, 2011 at 5:24 PM

    Good Evening San,

    Thanks for your views. A humble suggestion to mention the values of 50, 200 DMA in the text box within the chart. It would help us a lot.

    Thanks again,
    Prabakar

    ReplyDelete
  2. SanJuly 18, 2011 at 8:56 AM

    @Prabakar
    I will try to include those values here after.

    ReplyDelete

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