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.

Tuesday, 7 August 2012

NIFTY Views - for 08th Aug 2012:

Opening for 8th Aug: - Flat to Down
 
Today formed a Double Top Pattern, which is Bearish. Confirmation required tomorrow, if support of 5350 is not broken !! 
So I am on Short side till 5350 is broken with Volumes !

In Weekly Time Frame:  Side trend
Bollinger :- Side Trend
RSI         :- Down trend
In Daily Time Frame: Side Trend
Bollinger:- Side Trend
RSI        :- Uptrend
 
BUY:  Dips near 5280 or above 5350, TGT 5400
SELL: Sell in the morning, TGT - 5285, then 5250, 5000
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