NIFTY Weekly Technical

>> Sunday, January 4, 2009

On my Birth Day I am writing this post. Hope it benefits.

Last week markets went up as predicted.

The coming week we may see more volatility. But I am bullish until NIFTY doesn’t break 2840. Above 3150 we can see 3225 and 3280.

We are in a range bounded mode.

On Monday we could see our markets rally.

Fundamentals are in favor of markets. But the FII’s are still pulling out their money.


Simple Moving Averages.


5 D

8 D

13 D

20 D

39 D

50 D

200 D

2988

2960

2989

2945

2865

2873

4062


Currently we are above 50 Days moving average.

We may face a stiff resistance at 3100.


Fibonacci price projections-



0%

61.8%

100%

161.8%

261.8%

Up

2813

2997

3110

3294

3591

Dn

3110

2926

2813

2629

2332


Chart –



Other Indicators –

- Volume (last/ 5 day average): 0 / 0
- 5 day RSI: 67 - no indication.
- 14 day RSI: 57 - no indication.
- Williams % R(14): 79 (summation factor 100)
- Average Directional Index ADX: 13
- Average True Range ATR: 5 days - 85 .....14 days - 110


NIFTY Futures –

Buy signal holds. Stop loss 2960.
 
Strong resistance at 3100. Previous top and trend line resistance.
 
Markets to continue trading within channel (EOD charts).


Happy Investing!

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3 comments:

seenu301 January 4, 2009 at 11:02 AM  

wish u happy many more returns of the day

Chirag January 4, 2009 at 2:27 PM  

Thanks a ton. Seenu301

செவ்வானம் January 5, 2009 at 12:59 AM  

many more happy returns of the day !!!