In yesterday's trade we saw some selling in Nifty with open interest decreased (it is quiet normal to see open interest decreasing with selling, no need to worry) & PCR and other data still not showing weak trend yet. This is positive side for Nifty, let's see other side or we can say negative side below,
Nifty once again failed to cross 200 DMA, as per Bar chart analysis Nifty showing 123 reversal,
RSI coming down from overbought level, volume is higher than previous few days.
These are negative points & can take Nifty in down trend.
Technical Analysis is always based on If analysis, so we are doing the same
If Nifty manage to stay above 5040-5060, then Nifty will keep its up trend intact. if Nifty will pierce today's negativeness & close above 5135, an immediate short term up trend will continue till 5400.
It will be interesting to see what happens next....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
Nifty once again failed to cross 200 DMA, as per Bar chart analysis Nifty showing 123 reversal,
RSI coming down from overbought level, volume is higher than previous few days.
These are negative points & can take Nifty in down trend.
Technical Analysis is always based on If analysis, so we are doing the same
If Nifty manage to stay above 5040-5060, then Nifty will keep its up trend intact. if Nifty will pierce today's negativeness & close above 5135, an immediate short term up trend will continue till 5400.
It will be interesting to see what happens next....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
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