July 27, 2013

NIFTY Weekend update

 
  • From the above charts we may conclude that a close below 200 SMA or below the cloud may take nifty towards the GAP shown in the last two charts.
  • Daily chart shows a MACD Sell signal and a violation of 50 Day SMA this is a good sell signal usually But for now the presence of 200 SMA should make the bear cautious of a bounce.
  • Weakness below 5850. Strength above 5950

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