January 25, 2009

Nifty EOD Chart 23-01-09

This is for education purpose only and may not be useful for trading

Daily charts: 2 day swing in sell mode SL 2750.
Markets have broken out on the downside. However, the price behaviour is unconvincing, to say the least. We shd hv been down 3-5% today but that has not happened.
Volumes are also not supporting and VIX has dropped by 10%.
Weekly charts: Last weeks' bullish hammer has been fully retraced.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

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