Chart Shows the Last 7 days of Movement in Nifty giving alternate buy and sell signals as per 5 EMA trading system. Look like a consolidation pattern between 2888-3150 only breakout can give direction. So we have to wait for news till the breakout occures
Simply. As the news is gonna decide the breakout.
UPSIDE BREAKOUT WILL LEAD NIFTY TOWARDS 200 WMA OF 3666 IN NEXT 2 WEEKS. HOWEVER FAILING TO CLOSE ABOVE 3100 ON ANY DAY AND SLIPPING DOWN TO CLOSE BELOW 2888 ON ANY DAY CAN SURELY SLIDE NIFTY TO MUCH LOWER CLOSING LEVELS TOWARDS 2800 & THEN TO 2684 DAY CLOSING DURING THE WEEK.A CLOSE BELOW THE CRITICAL CLOSING LEVEL OF 2684 ON ANY DAY CAN THREATEN THE LOWEST CLOSING OF THE YEAR OF 27TH OCT AT 2525 LEVELS.
Related Readings and Observations
Tracking Shorter term GANN Nifty Chart Shorter term GANN FAN Chart of Nifty(Hourly Chart) is shown. Which indicates shorter term GANN Resistance near 4965 and keeps decreasing with respect to time. Related ReadingsLong and […]- Nifty and Bank Nifty 90 min charts for 8th June 2012 Trading Currently nifty and bank nifty are in buy mode and firmly trading above the intermediate support zone 5012 and 9667 respectively. Exit positional shorts only
if the intermediate support […]
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- Nifty and Bank Nifty 90 min charts for 27 April 2012 Trading Nifty and Bank Nifty both are still in sell mode on the 90 min charts. Currently the resistance are near 5258 and 10321 respectively. Nothing much changed today.
- Caution : Nifty nears GANN Support Zone
From the Nifty Hourly charts we could observe that.... Nifty is nearing the gann support regionnear 4325-4350. If Nifty fails to hold the support then next levels of Support […]
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