The charts indicate breakout only above 5700-5705. A breakdown below 5640 would be a descending traiangle/Head and shoulder breakdown.
WEEK CHART:
Showing posts with label Descending Triangle. Show all posts
Showing posts with label Descending Triangle. Show all posts
October 15, 2012
ANALYSIS FOR 15 OCT
Nifty opened lower and till now could not sustain above 20 DMA - 5766. Struggling for support at Day LEMA @ 5658. If supported at Day LEMA first it would move towards 20 DMA and then towards Day 5ema -5690. Initial Strength returns on two Hours' close above Day 5ema @5690.
The charts indicate breakout only above 5700-5705. A breakdown below 5640 would be a descending traiangle/Head and shoulder breakdown.
WEEK CHART:
The charts indicate breakout only above 5700-5705. A breakdown below 5640 would be a descending traiangle/Head and shoulder breakdown.
WEEK CHART:
October 12, 2012
Analysis for Oct 12
Nifty Gathered support from 20 DMA and closed exactly at 10 DMA and below Day HEMA.
Today Being week close, A close below the Week HEMA @ 5699 would weaken Nifty. Strength if closed above the Day HEMA 5727.
WEEK CHARTS:
If the -VE divergence in weekly charts comes to play then more downsides would be seen.
Today Being week close, A close below the Week HEMA @ 5699 would weaken Nifty. Strength if closed above the Day HEMA 5727.
WEEK CHARTS:
If the -VE divergence in weekly charts comes to play then more downsides would be seen.
If the -ve
divergence comes to play then Nifty would be dragged further down towards channel bottom.