August 12, 2011

NIFTY Daily Analysis

  • Nifty may give a bounce but It has to sustain above 5 Day High EMA for a trending move to happen otherwise ti will end up as a bounce.
  • Price is yet to test the GAP.
  • Indicators are positioned for a bounce but Trend is still down. So one has to wait for nifty to cross crucial resistance levels. Shorting will be easy below 5120 - 5100 levels. Closing above day high can give hope for bulls.
  • 5 Day High EMA @ 5228
  • GOLD CHANNEL BREAK TRADE
  • S&P 500 EOD UPDATE
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3 comments:

  1. Nilesh PatilAugust 12, 2011 at 9:05 AM

    GOOD MORNING SIR,
    IS THERE ANY BERIESH ENGULFING PATTERN IN GOLD?

    ReplyDelete
  2. SanAugust 12, 2011 at 9:13 AM

    @Nilesh
    No nilesh it was developing into a bearish engulfing pattern, But price has gone back up again. We have to wait for the daily candle to close.

    ReplyDelete
  3. chetanAugust 12, 2011 at 9:17 AM

    good morning.have a nice day.

    ReplyDelete

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