Nifty traded between 5118- 5528 in expiry week before closing at 5471 and it was predicted at macro view “ 5500, 5575 and 5690 are pivot / reversal levels so buying with volumes must be there to cross these barriers . as per eod nifty chart ,candles are supporting bulls ..next negative wave may take nifty to 5180 5000 level ” at http://dhanvarsha.in/nifty-macro-and-micro-analysis/
Nifty weekly candle closed flat making long legged hammer at extremely oversold zone . possibility of selling climax according to volumes . Nifty Closed at bottom of uptrending channel just above 200 week moving average and at lower bollinger .
Expecting one more weekly flat closing or looking up towards 5575 5690 down side support will be at 5350 , buy on dips if nifty will sustain above 5350 weak only below 5350 .
Nifty macro view for week ending 06 sept 13