NIFTY Weekend update

 

• From the above charts we may conclude that a close below 200 SMA or below the cloud may take nifty towards the GAP shown in the last two charts.
• Daily chart shows a MACD Sell signal and a violation of 50 Day SMA this is a good sell signal usually But for now the presence of 200 SMA should make the bear cautious of a bounce.
• Weakness below 5850. Strength above 5950