I am not a certified analyst. The charts shown and the content in the blog are for educational purpose only and in no way is a buy or sell recommendation. Readers are advised to use discretion.

Wednesday 22 August 2012

NIFTY Views - for 23rd Aug 2012:

Nifty formed a Doji & then gave a Bullish confirmation breakout.
US market is Negative but our market has shown Bullish strength till yesterday. Today was a Profit booking Day !
 
60 Min chart giving 1st sign of Bearish Divergence, so be cautious BULL.

In Daily Time Frame: Up Trend
Bollinger:- Up Trend
RSI        :- Up Trend
 
In 60 min Time Frame: Trend changing to Bearish
Bollinger:- Up Trend
RSI        :- Divergence for Down Trend
 
BUY:  Dips @ 5404/ 5380, TGT 5440, 5490
SELL: Sell @ 5450/ 5460, TGT - 5405, 5380
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