January 21, 2013

BANK NIFTY Chart analysis


  • Bank nifty forms another 300 Plus range. 
  • This range must resolve for a 300 point move to happen. Price is trying to hold above 20 Day SMA.
  • Weekly MACD histogram has been diverging without any major correction for a while. MACD lines are still in buy mode. Price closing below 20 SMA may trigger a correction.
  • DOW JONES TRIPLE DIVERGENCE
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