NIFTY WEEKLY CHART:
DMA SUPPORT: NIFTY HAS TAKEN SUPPORT AT 40 DAY WEEKLY MOVING AVERAGE AT 5020 WHICH WILL BE A CRUCIAL LEVEL FOR NEXT WEEK
TRENDLINE: THE ABOVE TRENDLINE IS POSSIBLY THE LAST SUPPORT FOR NIFTY AT 4850 ,BREAKING WHICH WE COULD SEE LEVELS OF 4600 AND 4585
SUPPORT LEVELS FOR NEXT WEEK : 5020( IMP), 4980( 200 DMA) AND 4955
NIFTY HOURLY CHART:
TODAY NIFTY MADE A HIGH OF 5212 WHERE IT FACED RESISTANCE , WHICH I HAD MENTIONED IN MY PREVIOUS POST
ICHIMOKU CLOUD: NIFTY HAS SUPPORT AT 5125 - 5100 ACCORDING TO ICHIMOKU CLOUD THEORY
NIFTY DAILY CHART:
MOVING AVERAGE: NIFTY HAS STRONG RESISTANCE AT 5215 WHICH IS 20DMA ON DAILY CHART
NIFTY DAILY CHART :
MOVING AVERAGE: NIFTY FACED RESISTANCE AT 50 DMA WHICH WAS AT 5206
NIFTY DAILY CHART :
RETRACEMENT THEORY: NIFTY HAS RETRACED 50% OF THE ENTIRE FALL (FROM 5399 TO 4874) IN A SINGLE DAY !!! AND CLOSED AT 5193
RESISTANCE :5210 AND 5230
