Technical Analysis and Research For 04-10-2012
Nifty-EOD Chart (03-Oct-2012):- |
| Just click on chart for its enlarged view |
1- Without force up moves for the last 7 sessions.
2- Indicators moving down
Conclusions from EOD chart analysis
Up moves in EOD chart but down moves in indicators therefore negative divergence development and emergence of correction possibility. Momentum turned down after slow up moves in last 7 trading sessions between 5639-5743 and forceful break out of this range will decide next trend but breaking down of 5639 will be deeper correction confirmation because market is prepared for that also.