This is for education purpose only and may not be useful for trading
Uptrend intact with support at 2950. Trend reversal if markets break/ close below 2950.
Deep support at 2860.
One can also look at channel on EOD chart for resistance/ supports. Note that this channel is bearish as the rally has taken longer time than the most recent rally and gains have been smaller than the most recent rally.
20 D swing has given a buy. Most probably this will fail as has been the case with all buy
calls on nifty this year (given by this indicator)..
Weekly charts have also given a buy with SL at 2760 and 2500 (2 W swing).
Uptrend intact with support at 2950. Trend reversal if markets break/ close below 2950.
Deep support at 2860.
One can also look at channel on EOD chart for resistance/ supports. Note that this channel is bearish as the rally has taken longer time than the most recent rally and gains have been smaller than the most recent rally.
20 D swing has given a buy. Most probably this will fail as has been the case with all buy
calls on nifty this year (given by this indicator)..
Weekly charts have also given a buy with SL at 2760 and 2500 (2 W swing).
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