NIFTY WEEKLY CHARTS WITH 5 DIFFERENT CHARTS.

 AS PER THIS CHART WE SEE IS IN UP CHANNEL AND ALMOST REVERSE NEAR RESISTANCE LINE AND THIS WEEK ITS MADE “BEARISH ENGULFING” CANDLE STICK PATTERN. AND AS PER YELLOW ROUND WE SEE AFTER A GOOD UP MOVE WE SEE WHEN ITS MADE THIS TYPE OF PATTERN WE SEE AT LEST 2 WEEK MARKET CONTINUE ITS BEAR TURN.

 

AS PER THIS CHART WE SEE SOME VERTICAL RESISTANCE & SUPPORT. AS PER THIS CHART WE SEE YELLOW ROUND ITS INDICATE THAT WHEN MARKET AT SHORT TERM TOP, AT THAT TIME VOLUME IS GOING LOWER COMPARE TO 1ST ROUND. SO TRADE WITH CAUTION.

 

AS PER THIS CHART WE SEE MARKET AT STILL UP ABOVE 20 & 50 W-SMA. AS PER THIS CHART WE SEE 50W-SMA (BLUE LINE) IS WORK AS GOOD SUPPORT & RESISTANCE. AS PER 2ND PANNEL WE SEE MACD IS IN BUY MODE AND ABOVE ZERO LINE, SO I THINK WE ARE NOT IN LONG TERM WEAK MARKET BUT SOME CONSOLIDATION IS POSSIBLE.

 

AS PER THIS CHART WE SEE SOME FIBONACCI RETRACEMENTS LEVELS. AS PER THIS CHART WE SEE 5875(61.8% RETRACEMENTS OF RANGE 6120 TO 5480) IS GIVE GOOD SUPPORT TO MARKET THIS WEEK, BELOW THAT WE SEE 50% & 38.2% RETRACEMENTS THAT 5800 AND 5724 ACCORDINGLY.

WE SEE IS ICHIMOKU CHARTS ON WEEKLY BASIS AND MARKET STILL ABOVE THAT COLUDE. CLUDE LEVEL UPPER SIDE IS NEAR 5650 TO 5675 RANGE. AND ALL INDICATOR IS IN BULL MODE. SO I THINK NO NEED TO PENIC IN MARKET BUT TRADE CAUTIOUSLY.