January 31, 2012

NIFTY Chart Analysis

  • Hanging man has managed to stop bulls from crossing 200 SMA.
  • But price has to fall below 5 Day Low EMA or 10 Day EMA for triggering a sell.
  • Price stopped at 78.6% which will keep the bears interested. Price has to sustain below the Golden ratio for bears to strengthen more.
  • So we shall wait and see if a sell gets triggered or a retrace of yesterday's fall happens.
  • S&P 500 EOD UPDATE


  1. thanks sam for the update...will look today nifty hold 5050 level as its monthly closing for bulls.

  2. San:
    14d RSI in my amibroker has never been above 80 in the last several months. But your chart shows differently? Is the OB value for rsi 80 or some other number?

  3. @Janaki
    As of yesterday RSI was above 80 in Chartnexus.