Nifty Weekly Technical View

By | March 28, 2010

Nifty Weekly Technical view is present as below:

1. Market are showing good strength and trading well above 5 EMA.

2. RSI is showing negative divergence

3.Nifty is very near to its 52 week high of 5311 and facing quite a high resistance at 5290

4.Nifty is moving in a channel and will find support at the bottom of the channel around 5200 oce it is not able to cross 5311 during the early part of week

5.OI charts are attached Good OI is at 5200 PE should prove to be a good support if market falls on any correction

Resistance for coming week 5311 5370 and 5440

Support @ 5214 5147 and 5108

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