Last week what ever posted about market here …marked traded like that only .
Three years weekly Nifty chart is indicating that only 3 bullish candles lifted nifty to 6000 level . generally 5 bullish candles were there in each swing in past on an average… so next coming candle may take nifty to 6100 or above as nifty is trading above 20 WMA and in upper bollinger zone which we can say is bulls dominated area …
RSI is ar 64.71 and pointing to North East direction is itself a bullish sign
Daily Nifty chart is showing that nifty entered in new horizontal channel 5900-6100… click here to read more .
Hourly nifty futures chart is indicating that nifty closed at top of channel means chances of profit booking say upto 5910 5950 ..which is demand of healthy move and then towards 6100 …so trade according to intra moves …positional traders stay long keeping sl at 5890 5900..micro analysis will lead us towards macro ..note it please …
NIFTY MICRO ANALYSIS
Mentor /guru /teacher is must to learn some thing in proper way thru short methods …you must have to accept some one as guru like eklavya did …without guru no gyan …see here
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NIFTY MACRO & MICRO ANALYSIS - WEEK ENDING 19 JULY 13