September 17, 2015

Nifty support and Resistance levels

  • Nifty for now is likely to move between 100 week sma and the GAP. For bigger direction one of these levels must be broken on closing basis.

Bank nifty chart update

  • Bank nifty support levels continues to move lower. Current bounce may not move above the GAP area. But for a bigger fall price must close below 100 Week SMA. 

Tata steel chart update

  • Week chart shows positive divergence. Month chart trying to stay above 200 Levels. Daily needs to stay above 50 day SMA for bigger up moves to happen.