S&P CNX Nifty:30.3.2010
1 week Trend: Up(=) 1 month Trend: Up(=) RSI is overbought
Preference: the upside prevails as long as 5180 is support
Alternative Scenario: the downside breakout of 5180 would call for 5077 and 5016
Comment: the RSI is trading above 70. This could mean that either the index is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. The index is trading above both its 20 and 50 day MA (standing respectively at 5157.43 and 5019.85). The S&P CNX Nifty index is currently trading near its 52 week high reached at 5310.85 on 06/01/10 .
Pr. Close: 5302.85 Restt: 5354/5379/5413 Supp: 5250/5219/5180
reach: trifort007@gmail.com
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Nifty 29.3.09
S&P CNX Nifty:
1 week Trend: Up(=) 1 month Trend: Up(=) RSI is overbought
Preference: the upside prevails as long as 5120 is support
Alternative Scenario: below 5120, expect 5015 and 4952.
Comment: the RSI is trading above 70. This could mean that either the index is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. The index is above its 20 and 50 day MA (standing respectively at 5135.39 and 5018.52). The S&P CNX Nifty index is currently trading near its 52 week high reached at 5310.85 on 06/01/10.
Pr. Close: 5282 Restt: 5353//5457/5521 Supports: 5160/5120/5015
reach: trifort007@gmail.com
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