Weekly chart
The weekly chart did broke the upper side resistance of the stock this week as well.
The market closed on the flat note on weekly basis.
Resistance of 5330 and 5380 on weekly basis can be seen in coming days.
ROC is showing support and positive movement whereas MACD is showing pressure on upside of the market.
Market for the medium term is seen around 4950 to 5400!!!
Daily chart
Daily chart of nifty is trading between the range of lower and upper ascending trend line.
The range is getting narrow and breakout toward any side will set a trend for coming days.
MACD is giving a positive indication for the market and ROC is giving negative divergence for the market.
Hourly Chart
Crucial level for the week(Pivot points):-
The market closed on the flat note on weekly basis.
Resistance of 5330 and 5380 on weekly basis can be seen in coming days.
ROC is showing support and positive movement whereas MACD is showing pressure on upside of the market.
Market for the medium term is seen around 4950 to 5400!!!
Daily chart
The range is getting narrow and breakout toward any side will set a trend for coming days.
MACD is giving a positive indication for the market and ROC is giving negative divergence for the market.
Hourly Chart
As it is seen in the chart that the market was in a range bound of 5320 and 5267 for last week.
Market did closed above 5320 on last thursday but failed to sustain above that level, hence it is said that it is good to wait for the second confirmation before entering the trade.
However now this two level are the crucial level and one should trade after the breakout seen towards any side of the range with strict stoploss.
| R3 | 5421 |
| R2 | 5378 |
| R1 | 5347 |
| PP | 5304 |
| S1 | 5273 |
| S2 | 5230 |
| S3 | 5199 |
No comments:
Post a Comment