September 22, 2012

NIFTY Weekend update

  • Nifty weekly chart has closed above the golden ratio. Intra week weakness was a trap and nifty bulls resumed the primary trend on the last day of the week.
  • Second chart shows possible resistance lines for the coming weeks.
  • 3rd chart shows the Power of weekly candlestick patterns. Bearish engulfing in weekly chart was followed by a down trending market. Now we are moving up after a weekly bullish engulfing pattern.
  • Last chart shows possible resistance level in monthly chart in the form of Monthly upper Bollinger band.

No comments:

Post a Comment