NIFTY Technicals for the week 8th - 12th Dec.

>> Sunday, December 7, 2008

Markets lost 1.5% in last week. Didnt meet our predicted targets .

We may see more pain in comming week.
Crude is touched levels of 40$ if this level is broken we will see crude at 30$ a barrel.
I see markets rangebounded in 2550 and 2720 range.
A bullishness is expected only above 2945 on NIFTY.

Monday we may see a bullishness in the begning as US markets were up over 3%.

Moving Averages (Simple) -

5 D

8 D

13 D

20 D

39 D

50 D

200 D

2700

2708

2687

2767

2917

3142

4255



One should go long above 2955 and short below 2680 .



NIFTY Technicals by IndianMoneyPlus.Com

Other Indicators -
- Volume (last/ 5 day average): 0 / 0 
- 5 day RSI: 50 - no indication.
- 14 day RSI: 43 - no indication.
- Williams % R(14): 64 (summation factor 100)
- Average Directional Index ADX: 24
- Average True Range ATR: 5 days - 127 .....14 days - 152


Support and resistance -

Previous resistance
Previous support
Weekly close
5 days highest high
5 days lowest low
2833
2503
2755
2833
2571

Fabinco Price Projection -

0%61.8%100%161.8%261.8%
Up25032707283330373367
Dn28332629250322991969

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