As Per NIFTY weekly chart.
Nifty yesterday has taken a medium term support Shown in graph. Today it was up around 50 points.This is the crucial level for nifty and break below this will take it to 4550,4300.
Down side remain high as the MACD signal line has negative cross over, and MACD histogram remains in negative territory from Jan end. Other Indicator RSI is at 46.28,which is near to what we have seen in Mar 2009 when 2009 bull run has started..
For Coming week, i think nifty may go up to the level of 4885,4924.
The strength lies above 4800.
Medium term view bearish.
Nifty yesterday has taken a medium term support Shown in graph. Today it was up around 50 points.This is the crucial level for nifty and break below this will take it to 4550,4300.
Down side remain high as the MACD signal line has negative cross over, and MACD histogram remains in negative territory from Jan end. Other Indicator RSI is at 46.28,which is near to what we have seen in Mar 2009 when 2009 bull run has started..
For Coming week, i think nifty may go up to the level of 4885,4924.
The strength lies above 4800.
Medium term view bearish.
