NIFTY FORMED A BEARISH CANDLE ON DAILY AND WEEKLY CHART
200 DAY MA ACTING AS A RESISTANCE
MACD ENTERED INTO BEARISH ZONE
10500 ACTING AS SUPPORT
SO GO SHORT FOR THE TARGET OF 10500
NIFTY SUCCESSFULLY BREAKS THE RESISTANCE AND SUSTAINED ABOVE LEVEL FORMED INDECISIVE CANDLE IN DAILY AND WEEKLY CHART.
NOW IT IS TESTING PREVIOUS RESISTANCE ACTING AS A STRONG SUPPORT AT 10930 LEVELS
NIFTY IS ABOVE ALL THE MOVING AVERAGES (50,100,200 DAY)
MACD TURNED INTO BULLISH
IF IT SUSTAIN ABOVE 10930 MARK IT IS GOOD TO STAY LONG....
IT DOESN'T MEAN TO GO...
LONG TERM TREND IS UP
NIFTY FORMED A BUILD UP NEAR TO RESISTANCE IN WEEKLY CHART
MACD SIGNAL LINE TURNED INTO BULLISH BOTH IN DAILY AND WEEKLY CHARTS
STRONG BULLISH CANDLE IS FORMED NEAR THE RESISTANCE
THERE IS A POSSIBILITY OF BREAKOUT SO BUY IN DIPS AND WAIT FOR THE BREAKOUT.
