Technical Predictions for 2NIFTY(8146.30) Nifty today made a low of 8035 and subsequently closed at 8146. The nifty traded with low volumes. The momentum is still below zero, at -37.10. When the momentum line begins to drop further below zero line, the downward gains momentum. Short positions should be taken on crossing below the zero line only if the price trend is down. The nifty is moving in an up trend range between 7950 and 8200 as seen on the charts below. RSI is at 50 levels indicating no trade zone. Stochastics are between 50 & 80 levels .However, nifty has today crossed 14 Day average on the above side. Most of the indicators are mixed and it will better to stay away from the market as it is no trading zone OR if markets open and trade below 8150, then Buy 8100 put. The buying price should be kept as Stop Loss.. NIFTY(8146.30) Nifty today made a low of 8035 and subsequently closed at 8146. The nifty traded with low volumes. The momentum is still below zero, at -37.10. When the momentum line begins to drop further below zero line, the downward gains momentum. Short positions should be taken on crossing below the zero line only if the price trend is down. The nifty is moving in an up trend range between 7950 and 8200 as seen on the charts below. RSI is at 50 levels indicating no trade zone. Stochastics are between 50 & 80 levels .However, nifty has today crossed 14 Day average on the above side. Most of the indicators are mixed and it will better to stay away from the market as it is no trading zone OR if markets open and trade below 8150, then Buy 8100 put. The buying price should be kept as Stop Loss. BIOCON(506.30) Biocon has made “upside two crows” pattern on Japanese Candlesticks. This pattern only occurs in an uptrend. As with most bearish reversal pattern, it begins with a white body candlestic. The gap referred to in the name of this pattern is the gap between, not only the first and second days, but also the first and third days. How can you have two successive lower close and still be a raging bull? The bulls have been scared now due to two low close. The bears step in now on the fourth day, and the market should open gap down and trade lower. SELL with Stop Loss of 514 and a target of 490. For more details log on to www A2.analysts
Posted on: Tue, 23 Sep 2014 04:33:04 +0000
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