NIFTY WEEKLY ANALYSIS 31JULY2023

 NIFTY




Nifty printed same low of 19562 last week and this week .Break of this low may be considered as change in dow theory.

         Nifty daily RSI at 60 and holding 20MA as of now. Hourly printed a lower high  .Have to wait 

         for decisive break of range 19562  - 20000 .Bulls losing strength.

          For now will keep trades to intra until there a clarity of trend.







Comments

Post a Comment

Popular posts from this blog

Bank nifty Weekly view

Image
Bank nifty trading with high volatility from few days. Bank nifty made a lower top and lower bottom and now trading in a range. Next week trade with caution as gujarat election results are awaited. Can go long above yesterday's high of  25600 with a target of 26000.
Read more

Bank Nifty Weekly Analysis (19/06/2023 - 23/06/2023)

Image
Bn is in distribution phase on weekly chart stuck in the range of 44500 - 43400 Further action expected only outside the range. Daily looks to be taking support at 50EMA still within range. Hourly can be Rlaunchpad. Bearish targets can be 43100 and 42900 if trades below 44100. Above 44100 bullish targets can be 44750 and 44900.
Read more