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Two Positive Formation in Weekly Chart


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Two Positive Formation in Weekly Chart

1- MACD Line Positive Cross Over
2- Continuation Pattern 'Pennant'Formations

That correction is on which was started on Diwali 2010 and Continuation Pattern 'Pennant'Formation has been developed therefore expected that finally upward cross over after crossing Falling Trend line will be seen.

Falling Trend line is at 5940 and Nifty could not moves above it in previous and retraced. Consolidation in the begining of coming week will be strong possibility of crossing 5940 and strong rally toward minimum upto 6120.

Weekly MACD line cross over means strong move possibility and positive cross over had been in last weeks therefore technically Indian markets are well prepared for that rally which is very much possible in the coming weeks.
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