Weekly NIFTY technicals - 1st - 5th Dec.

Last week as predicted did well. My target of 2890 is still not come. Projected to come this week.

Last week we saw a tragic incident of the Mumbai terror atack which was shocking.

Some gap up opening is expected on Monday as US closed positive.

Sensex is showing much more strength than NIFTY.

Simple Moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2713	2679	2768	2830	3055	3281	4317

I see a stiff resistance at 2950 now as its between 20D - 39D moving averages.

A short covering can come between 2450 - 2620.

VIX is at 56.21 this week compared to 61 last week.

I am bullish till Wednesday.

Selling preasure can come between 2850 -3000 points.

Chartem' Up -

Other Indicators - 

- Volume (last/ 5 day average): 0 / 0 
- 5 day RSI: 54 - no indication.
- 14 day RSI: 43 - no indication.
- Williams % R(14): 38 (summation factor 100)
- Average Directional Index ADX: 30
- Average True Range ATR: 5 days - 134 .....14 days - 164

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