Daily Line Chart
Half Hourly Chart
Weekly Volume Chart
- A big bull candle on weekly charts.
- The Nifty is still stuck in the range of 5181-4942 though there was an intra day break above 5181, which could not sustain.
- The Line charts paint a different picture , showing a breakout from the previous highs of 5148. This move confirms the double bottom made at 4942 giving an immediate target of 5354.
- Moving Averages on all time frames are bullishly aligned.
- Macd on daily charts has given a buy.
- Negative divergence in daily and weekly time frame still persist.
- The half hourly charts show a minor negative divergence
- Though the weekly volume is low, it is due to the truncated week.
- Volumes were low on the down days of the week and high on up days.
Happy Trading !!