Sunday, December 20, 2009

TECHNICAL ANALYSIS FOR NIFTY FOR 21.12 2009

1. NIFTY CLOSED AT 4987.70 AFTER LAST HRS HECTIC SELLING

2. CLOSED AT LOWER BOLLINGER FROM WHERE GENERALLY THE PRICE BOUNCES BACK...
3. W%R AT 95.75 WHICH RESTRICTS ITS DOWN FALL...
4. MACD IS STILL IN POSITIVE ZONE.
5. RSI IS MOVING DOWN BUT IT IS AT 44.37 FROM WHERE IT MAY TAKE A U TURN TOO.
6. SLOW STOCHASTICS AT THRESHOLD LEVEL FROM WHERE TREND REVERSAL IS POSSIBLE.
7. MONEY FLOW INDEX AT 52.85 ,CAN SUPPORT A TREND REVARSAL.
8. PARABOLIC SAR IS STILL BULLISH.
FIB RATIOS
Short 5008.39
Stop Loss 5021.61
Target 1 4973.78
Target 2 4952.39
Target 3 4917.78
RL Target 1 5056.22
RL Target 2 5077.61
RL Target 3 5112.22

PIVOT POINTS AND SUPPORT AND RESISTANCE LEVELS
R3 5093.67
R2 5068.33
R1 5027.67
PIVOT 5002.33
S1 4961.67
S2 4936.33
S3 4895.67
DUE TO ABOVE INDICATORS IT SEEMS THAT ON MONDAY WE WILL SEE A RANGE BOUND TRADE OR A SLIGHT 1/2 % UP OR DOWN MOVE IN INDICES IS POSSIBLE.

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