July 15, 2012

NIFTY Weekend update


  • Rising wedge has given a breakdown in favor of bears Now price has to takeout the GAP shown in first chart for bears to gain momentum. 
  • MACD has given a sell signal But price sustaining above 20 Day SMA should give another chance for bulls to move up. For bears a close below 20 SMA is needed to gain momentum.
  • For a bigger breakdown price has to close the week below 20 Week SMA (5174).
  • Monthly chart shows price getting resisted at 5 Month High EMA.



No comments:

Post a Comment