NIFTY DAILY CHART
Saturday, September 4, 2010
NIFTY 04.09.10
NIFTY DAILY CHART
TRENDLINE : THE ABOVE TRENDLINE IS FROM JAN'10 HIGH (5310) CONNECTING APRIL '10 HIGH (5400) TILL AUG'10 HIGH ( 5499) WHICH UPON EXTENSION WE CAN SEE NIFTY MIGHT FACE RESISTANCE AT 5570
VOLUMES : VOLUMES HAVE BEEN DECLINING BETWEEN THE PERIODS AS MENTIONED ABOVE
NIFTY 04.08.10 (A)
NIFTY DAILY CHART
TRENDLINE: IN THE ABOVE CHART THE TRENDLINE IS FROM JAN '08 HIGH ( 6357) TO AUG'10 HIGH (5549) WHICH UPON EXTENSION WE CAN SEE NIFTY WILL FACE RESISTANCE 5540
Sunday, August 29, 2010
NIFTY 29.08.10
NIFTY DAILY CHART :
RSI( RELATIVE STRENGTH INDEX) :
BREAKDOWN :RSI HAS BROKEN THE LOWER SUPPORT LINE AT 52 LEVELS
DOUBLE TOP : RSI HAD MADE DOUBLE TOP ( "EXIT") WHEN NIFTY WAS AT 5540 AND 5550 LEVELS .
WILL HISTORY REPEAT ITSELF?? :
SIMILAR DOUBLE TOP IN RSI WAS LAST SEEN IN APRIL 2010 WHEN NIFTY HAD REACHED 5400 AND WE CRASHED TO 4800 LEVELS
NIFTY 29.08.10
NIFTY DAILY CHART :
MOVING AVERAGES: NIFTY AT 5391 ( DAY'S LOW) HAD TAKEN SUPPORT AT 50 DAY (SMA)
MULTIPLE TOPS: AT 5445 AND 5450 WE HAD SEEN NIFTY TOPPING OUT 3 TIMES ( FROM 19/08/10 TO 23/08/10) THUS IT WAS AN INDICATION THAT MARKETS WERE GETTING STRETCHED AROUND THESE LEVELS AND FALL WAS COMING
NIFTY 29.08.10
NIFTY WEEKLY CHART
CONFLUENCE: IN THE ABOVE CHART WE CAN SEE 5370 WILL ACT AS IMPORTANT LEVEL IN COMING DAYS
TRENDLINES: WE HAVE 2 TRENDLINES MEETING AROUND 5365 - 5370 WHICH IS LIKELY TO ACT AS STRONG SUPPORT FOR NIFTY
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