NIFTY 13.07.10

I AM POSTING VIDEO ABOUT HOW DIVERGENCES IN RSI CAN USED TO PREDICT THE MOVEMENT OF MARKET

NIFTY 11.07.10

 

"WEEKEND EDITION"

NIFTY WEEKLY  CHART :


RELATIVE STRENGTH INDEX(RSI):( FROM 10/06/09 TO TILL DATE)


 THERE ARE 2 POSSIBILITIES

1 ) BEARISH DIVERGENCE : AS SEEN FROM THE ABOVE CHART  NIFTY HAS BEEN MOVING UP  ACCOMPANIED BY FALL IN RSI , WHICH IS MAKING LOWER HIGH

THUS  THIS IS  AN INDICATION THAT WE COULD SEE A FALL IN  THE MARKET IN NEAR FUTURE


2 )TRENDLINES: RSI IS FACING RESISTANCE AT THE UPPER TRENDLINE  , WHICH IS VERY IMPORTANT TO BREAK IN ODER FOR IT TO MOVE HIGHER FROM HERE


IF THIS TRENDLINE IS BROKEN ON THE UPSIDE THEN 5475 AND 5500 ARE THE NEXT POSSIBLE TARGETS

NIFTY 09.07.10

NIFTY DAILY CHART :

" FLAG BREAKOUT ":  NIFTY HAS  FINALLY GIVEN A BREAKOUT FROM THE FLAG PATTERN AT 5300  WITH GOOD VOLUMES( THUMPS UP)  AND CLOSED AT 5352

BOLLINGER BANDS : NIFTY HAS RESISTANCE AT 5360 - 5370 WHICH IS THE UPPER BAND LEVEL

LEVELS TO WATCH OUT  :
RESISTANCE : 5370 ,5382 , 5396