Today 20th Feb 2012 on the occasion of Mahashivratri market is closed so we sat down and dig history of Nifty for past few months from where market has changed and found something interesting in the market. So we have noted it down for you and tried to put it in our words and explained it with images as follows: -
1. On 10th Jan 2012, Nifty showed first bull sign by breaking 4800 resistance level.
Nifty has not only broken resistance as shown in picture but also broke 50 EMA, down Trendline. It was double bottom kind of chart pattern we have seen.
2. Volume also begin to rise after that day as shown in the following picture: -
3. RSI was showing divergence when Nifty tested low point.
4. Nifty has broken its strong down trendline which has started in Nov 2010 when Nifty has tested 6335.
5. It look like Fresh bull market has started by breaking this trendline, it increases possibility Nifty to touch new highs in coming days.
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
1. On 10th Jan 2012, Nifty showed first bull sign by breaking 4800 resistance level.
Nifty has not only broken resistance as shown in picture but also broke 50 EMA, down Trendline. It was double bottom kind of chart pattern we have seen.
2. Volume also begin to rise after that day as shown in the following picture: -
3. RSI was showing divergence when Nifty tested low point.
5. It look like Fresh bull market has started by breaking this trendline, it increases possibility Nifty to touch new highs in coming days.
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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