February 21, 2014

NIFTY Chart analysis

  • Daily chart shows price getting resisted at 50% Retrace and near 100 Day SMA. 
  • Second chart shows weakness near the middle of the range. Longer the price stays in the range Bigger will be the direction out of the range. Another two months inside this range may give a bigger direction.
  • Weekly chart shows weakness near 5 Week High EMA. Bulls need a close above this level for testing the upper end of the range. Bigger weakness only on trading below 50 Week SMA.
  • BANK Nifty Chart Analysis

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