![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikx9V2ddwZ6iG4dSOAYgtlnmLOfncaJdmvHJHGUTBrmhXG2Fh3SPs9cxT1FjVW7-XafsTnmLxFXFKAAxQdyNPb3p6uOq02sGtMlNN_uhgn17CDjxd81oTRPbX9ZX-C-6wJiqMqTPLUzNA/s320/dly.png)
Daily Candle Chart
Observations
- Moving Averages on intraday charts all bearishly aligned. On daily charts the short term averages are bearishly aligned viz.5/10/20 dema.
- Nifty traded below 50dema intraday but closed above it.
- Nifty traded below the uptrendline from March 2009 lows intraday but closed above it. Closing below it would be very bearish.
- Daily oscillators are weak and the stochastics has entered the oversold zone.
- The neckline shown in pink on half hourly charts was once again tested but Nifty managed to stay above it. Break would give a downmove of around 350 points.
- Intraday oscillators are showing minor positive divergence.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
2 comments:
sorry had net problems and cldnt upload
THANKS
Post a Comment