September 17, 2017

NIFTY Chart Analysis

  • Nifty 4 Hour chart shows price near resistance zone.
  • Weekly chart shows bulls recovering from the big bearish candle. It took 5 candles to recover from the One Bearish Week. This mostly shows weakness. But one should consider the prevailing trend before coming to a conclusion.
  • Weekly MACD lines are negative for now. But as shown on the left hand side, Price can continue to move up while MACD lines give negative divergence. The Weekly structure will only turn negative if price moves below 9600 levels. 
  • Immediate weakness if price falls below 10040 levels.
  • CRUDE Oil Weekend update