June 27, 2017

NIFTY Chart Analysis

  • Nifty daily chart with 20 and 50 SMA shows price falling into the buy zone between 20 and 50 SMA. Weakness for bulls can be confirmed only on daily closing below 50 Day SMA.
  • Weekly chart is showing slight weakness with negative divergence. MACD lines too is closing in on a bearish cross.
  • If daily closes below 50 SMA Then the weakness is likely to moving into the Weekly chart as well.