Nifty levels for 23 March

By | March 23, 2011

Dear Readers,

The Site is up and running as I had conflicts with my Hosting provider. I need to move to a new Hosting provider and I have lost all the UI of site. I am working of Restoration of same and things should get normal within this week.I will keep on updating the site with my views from today.

 

Thanks to Dhaval of http://stockarchitect.com/ as he was pioneer in getting my Site up and running.

Nifty Hourly Chart

 

Nifty Hourly charts continue to trade in the parallel channel with a low of 5347 and High of 5563.We are witnessing a range bound action with contraction of range and drying of volumes.

 

STOCHASTIC is giving a SELL and RSI is Neutral on Hourly charts

 

Nifty Daily Chart

 

On Daily charts Nifty is forming a triangle pattern with rising support and contracting triangle. Break of Monday’s low of 5347 will give more downside till 5320 levels.

 

Short term Trend is down and only a close above 5465 will give power to bulls.

MACD is generating a SELL and RSI is in NEUTRAL zone.

 

Buy above 5406 Tgt 5420,5436 and 5460

Sell Below 5386 Tgt 5348 and 5314

 

 

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