Saturday, April 28, 2012

Nifty P&F (Wk 3004-0405) - till 5060 beware of 'bear trap'

Recap:

No more an "ascending top", now it's only bullish catapult.

Weekly Analysis:


Daily Analysis:


Summary:

Weekly DOWN. Daily DOWN. BlSL has been broken in weekly chart also. Support should not breach 5060 for bullishness to be intact. This is definitely a consolidation, it's a matter to be tested which way finally it gives in. As it's grinding too much in this range, it's likely to get into a trap.

2 comments:

  1. Hi
    can you update the chart for this week having broken 5060 on daily basis but not yet confirmed on weekly basis. what is the outlook now ?
    thankyou !

    ReplyDelete
  2. Chart outlook - It's bearish & quite deep.

    Updated chart, as personally going through some medical emergency of some close relative, could not update.

    Regards,
    Rajib

    ReplyDelete