NIFTY SPOT
NIFTY WEEKLY CHART
WEEKLY LELVELS (18.05.2015 TO 22.05.2015)
Nifty spot weekly chart is here. In the week ended 08.05.2015 Nifty made a low of 7997.15 reached a high of 8355.65. Nifty spot in the last week ended 15.05.2015 made a low of 8089.8 reached a high of 8332.75. You can see a real bull and bear fight in these levels. Bulls tried to bring nifty to green and bears dragged them heavily. But both are not in a full pressure to make there decisions. So NIFTY SPOT formed an inside bar formation, which tells us that the power of both bulls and bears are equal. If you see any cut of one direction nifty will move upto 200 to 300 points. Till then you can't estimate a clear cut direction in NIFTY
So wait and watch
NIFTY SPOT ABOVE 8356 BUY TARGET 8500
NIFTY SPOT BELOW 8089 SELL TARGET 7950
Be carefull in your trades
Nifty spot closed above the mother candle formation of 13.05.2015 at 8262. Today you can see good move in NIFTY if it crosses 8262. But heavy buying will be coming only above 8356. So buy small qty of nifty abv 8262 and increase your quantity when it crosses 8356. If nifty spot continous to close above 8356 very soon 8500 is possible.
Wait and trade after clear direction......
WEEKLY LELVELS (18.05.2015 TO 22.05.2015)
Nifty spot weekly chart is here. In the week ended 08.05.2015 Nifty made a low of 7997.15 reached a high of 8355.65. Nifty spot in the last week ended 15.05.2015 made a low of 8089.8 reached a high of 8332.75. You can see a real bull and bear fight in these levels. Bulls tried to bring nifty to green and bears dragged them heavily. But both are not in a full pressure to make there decisions. So NIFTY SPOT formed an inside bar formation, which tells us that the power of both bulls and bears are equal. If you see any cut of one direction nifty will move upto 200 to 300 points. Till then you can't estimate a clear cut direction in NIFTY
So wait and watch
NIFTY SPOT ABOVE 8356 BUY TARGET 8500
NIFTY SPOT BELOW 8089 SELL TARGET 7950
Be carefull in your trades
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