NIFTY IS IN MAJOR DECIDING MOVE IN NEXT FEW DAYS
AS PER THE DAILY CHARTS OF NIFTY WE SAW A GAP UP OPENING AND SUBSEQUENTLY IT MADE A NEW INTRADAY HIGH OF 5608 WHICH WAS HIGHER COMPARED TO THE HIGH WHICH IT MADE ON 18TH OF PREVIOUS MONTH. THE 200 EMA WHICH RANGES BETWEEN 5640-5650 WILL ACT AS A HURDLE AND SAME HAPPENED. WE SAW SOME SELLING PRESSURE..
IN ABOVE CHART OF NIFTY WE CAN SEE THAT MOST OF THE FAMOUS INDICATORS MACD, MFI(MONEY FLOW INDEX), RSI ARE FACING DOWN TREND LINE AND NEAR RESISTANCE AREA..SO BE CAUTIOUS..FOR FEW DAYS...
FNO STRATEGIC ALSO SUGGEST SAME: 5600 CE : HIGHEST OI :8.3Million AND 5400 PE : HIGHEST OI :7.7Million..
RANGE BOUND OF 5400 - 5600..EITHER SIDE BREAK OUT WILL DECIDE TREND LIKE BELOW 5400-5380 BEARISH.. AND ABOVE 5640-5650 BULLISH...
FOLLOW ING CHART OF NIFTY FOR ONE YEAR WITH HOURLY ANALYSIS..THIS ONE ALSO SUGGEST : The prices are clearly marked "5380/5400 to 5650/5680" as the battle zone with 5550 acting as a pivot. "5549" was emphasized on Friday that bulls need to stay above it...
(FIG source: www.tradeinniftyonly.blogspot.com - Good site for NIFTY)
FOLLOW ING CHART OF NIFTY FOR ONE YEAR WITH HOURLY ANALYSIS..THIS ONE ALSO SUGGEST : The prices are clearly marked "5380/5400 to 5650/5680" as the battle zone with 5550 acting as a pivot. "5549" was emphasized on Friday that bulls need to stay above it...
(FIG source: www.tradeinniftyonly.blogspot.com - Good site for NIFTY)
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