February 20, 2017

NIFTY Month Week and Daily charts

  • Nifty week shows a bullish pattern But another dip towards the rising support line is very much possible as price is moving into a stiff resistance zone.
  • One has to pay close attention to the month candle. If Feb candle closes higher into the resistance zone then its advantage bulls. Last two attempts into this zone has given bearish month candles as shown with the circles in Month chart.
  • crucial levels are shown in the daily time frame. Strength if stays above 8826. Mild weakness if continues to stay below 8826