Nifty Analysis!!!

Market today was in a range bound as well.
Since the global market is moving in a range bound, Indian market are following the foot step.
5320 and 5270 is the crucial level for the next trend to follow.
It seems likely nifty can touch again the level of 5270 before making going confirming a uptrend.

Mcx Gold Analysis!!!

The chart above is of GOLD AUG contract.
The price is moving in a downtrend, and since the price is moving in a range of a two parallel line
breaking of this range will indicate a change in trend.
In my earliar post i specified that the trend seems to be in a downtrend and the same have been seen till now and same will be seen in coming days.
The price of gold in dollar terms have increased from 1550$ to CMP 1617$, but strengthening Rupee have help to decrease the price in indian market.
Range of 29500-29750 is crucial.

Nifty Analysis!!!!

Nifty is taking support at 5270  for past two days.
If it sustain this level tomorrow then level of 5320-5330 can be seen in the market.
MACD have given a negative signal but RSI is showing sum support.
Level of 5270 is crucial for short term.

Nifty Analysis!!

 

Weekly chart above shows a formation of a  triangle.
Currently resistance formed due to triangle is around 5400 and 4900.
This range will help us to indicate a long term range.
MACD is making Lower Low(LL) and Lower High(LH) from july 2009, and till the trendline is not breached... upside movement will lack sustainability

 

 Now daily chart shows a resistance at 5300 and 5440 using Fibonacci Ratio.
55SMA and 200SMA are around 5100 indicating strong support.
Support at for short term can be seen at 5200 and 5100 level.