Nifty Weekend Analysis
.6140 acted as resistance and found support at volume by price level of 6040 & closed at 9 EMA level 6066. Short term oscillators indicate upside potential.
Nifty price candles are dancing in cloud zone. The cloud movement indicates consolidation with sideways correction within the zone of Tenkensen (3) & Kijunsen line (13) with 6084 acting as Pivot as per ichimoku daily chart.
On weekly chart, Closing below tenkensen line with oscillators indicating more selling considered as bearish with possibility to visit support at 5816 level in case of 5970 failing.
Rupee / USD daily and monthly chart indicate rupee stabilizing at current level with potential to appreciate again, which should provide support for FII.
1 comment:
Good morning Sri,
fantastic charts,
with the short param the ichi day & week look very apt to the situation.
The bigchart bakground looks a bit dark on contrasted monitors, though ok on other monitors [fyi].
All the best.
and thanks for the good analysis.
have a nice day!
:)
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