Nifty bullish falling wedge formation in hourly charts, the support comes near 4650 odd levels, a break above 4774 would confirm short term reversal on the index, might target 5090-5100 odd level.
Price behavior in nifty suggest another bullish possibility in the form of positive divergence in both MACD and 9RSI, if nifty manages to hold on to the support line indicated in the above chart, these divergence would ensure a good run for the bulls at-least in short term.
Nifty is holding the current lows also favors the possiblity of Gartley pattern in day chart posted earlier
refer link.
http://buzzingnifty.blogspot.com/2011/12/nifty-trade-setup-for-week-12-17dec.html
Price behavior in nifty suggest another bullish possibility in the form of positive divergence in both MACD and 9RSI, if nifty manages to hold on to the support line indicated in the above chart, these divergence would ensure a good run for the bulls at-least in short term.
Nifty is holding the current lows also favors the possiblity of Gartley pattern in day chart posted earlier
refer link.
http://buzzingnifty.blogspot.com/2011/12/nifty-trade-setup-for-week-12-17dec.html
3 comments:
Is your long trade and falling wedge set still valid?
• Oil prices dip after reaching June highs on U.S. crude stock draw.
• Gold prices gain in Asia after ADP jobs report misses expectations.
• Financial markets in Shanghai will be closed for a national holiday for whole week.
CapitalStars
We may see an extended buying opportunity soybean futures (June) near 3745 levels Mcx tips
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