Saturday, April 10, 2010

Nifty @ 5084

Nifty has already taken support at 40 weeks moving average. This time it will rest at 20 weeks MA or 100 days MA before moving higher.
This level is currently at 5084
Nifty has already tested 200 days or 40 Weeks MA, so this is unlikly to test again as overall market sentiment is bullish.
RSI is in oversold position for the last three weeks now
Slow stoch has already start to downtrend
William % now spend sufficient time in oversold Jone
We may see sharp correction next week as RBI rate hike is due on April 20, China may appreciate Yuan

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