Daily Candle Chart
- 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 !!