Nifty Weekly Analysis for Week starting 1 August

Nifty Hourly Nifty Hourly formed a double top at 5522 on hourly charts on Friday trade. Double top confirms the downtrend and a close below 50 SMA@5518 confirms the downtrend. Indicators are giving positive divergence but divergence should always be confirmed with price action. On Downside 5472 and 5436 are next valid support for Nifty. … Read more

Techical Levels:Bank Nifty,RIL and ICICI Bank

  Bank Nifty Tomorrow is RBI policy and Bank Nifty will be in limelight and volatile. So what can we Except, Market rallied today in anticipation of NO RATE HIKE , but as per RBI policy documents released today they still maintaing  HAWKISH stance. I am firm Believer of Charts discounts everything and Looking at … Read more

Is RIL heading for Breakout?

Reliance Industries Ltd RIL charts are showing a classical example of Support becoming Resistance. If the above chart is seen closely 883 was the breakdown point and this is the point stock is facing resistance now @883 Volumes on lower end near its ressitance and Negative divergence are 2 bearish indicators for the stock. Moving … Read more