Nifty Weekly Technicals

By | December 27, 2009

On Daily Charts We took support at rising trend line around 4945 and gave a wild and breath taking move which propelled nifty above it 20 SMA and 5 EMA.On Weekly charts we are seeing a rising trend line and if we cross 5210 in coming week short covering will propel us to higher levels.

Weekly Pivot:5107
Weekly Resistance:5269 5351
Weekly Support:5015 4853

On Daily Charts we have seen we are seeing a Avg. crossover og 20 SMA and 5 EMA which happened previously and nifty was propelled to higher levels.

Support at lower levels is at 5139 and 5099

On upside 5235 and 5377 will be resistance for Tuesday trading sessions.

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