Nifty-Micro Analysis of Intra Day Chart For 15-07-2011
Daily Indicators & Averages Analysis Chart(14-07-2011):-
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Conclusions
1- Averages(EMA-8,21,55,200)- All the averages are between 5551-5600.
2- Bollinger Band- Nifty is moving around its middle line for the last 3 sessions and showing no direction.
3- MACD- Both lines are kissing and not confirming any trend.
4- ROC- Resting at zero line and not confirming any direction.
5- RSI- At equalibrium line and not confirming any direction.
6- Slow Stochastic- At oversold line and not suggesting any immediate very short termbig move.
6- William %R- Near equalibrium line and not suggesting any immediate very short termbig move.
Conclusions (From Daily Indicators & Averages Analysis)
Direction less market and Indian market will prepare for next moves in the coming sessions.
Conclusions (After Putting All Studies Together)
All the trends are also side ways and Indian markets are trying to find direction through hovering around 200 Day EMA(5582) for the last 3 sessions and all the crucial averages are also between 5551-5600.
Nifty is trading between 5496-5470 for the last 13 sessions with good support between 5500-5580 and 2 resistances between(5620-5655 & 5700-5725). Nifty will trade first between 5570-5625 and next moves frist confirmation range is 5540-5655.
Quiet markets expected near 5600 and firstly trading between 5570-5625 today and Indian markets will try to find direction within this range and next moves first indication will be sustaining beyond this range.