September 29, 2012

NIFTY Weekend update


  • NIFTY Month chart shows price closing above 20 Month SMA and 5 Month High EMA after many months of failed attempts.
  • Weekly chart testing previous resistance level of 5735.
  • Daily chart continue to sustain above 10 Day EMA. Daily candle looks similar to a shooting start not perfect but looks bearish, One negative for bears here is that price closed above 5 Day High EMA.
  • Crucial levels in daily time frame is shown in last chart.


4 comments:

  1. San

    Your stuff is always Gr****8.

    Thanks and Regards Always !!!

    ReplyDelete
  2. Thanks for the comment Manish

    ReplyDelete
  3. @San,

    Brilliant Charts and perfect conclusion...

    ReplyDelete
  4. @Sanjay Jaiswal

    Thanks for the encouragement.

    ReplyDelete