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:
wish u happy many more returns of the day
Thanks a ton. Seenu301
many more happy returns of the day !!!
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