November 24, 2015

Nifty chart analysis

  • Nifty is testing its 100 week sma. Last time price did give a bounce from this line as shown in first chart. 
  • Although daily MACD Looks good for bulls, price need to sustain above 7900 levels for strength. 8050 is another strong resistance zone. Weakness if price starts to trade below 7690 levels on daily closing basis.