Weekly Value Areas : VAH-6000, POC-5975, VAL-5950
The Bears had a good week, with Monday starting with the Highs at 6042 and closing on Friday at the low at 5943.55 (Adjusted closing just above at 5951.30), making a gain of around 100 points. Coming back to the chart pattern, Nifty was sold thrice from around the WVAH of 6017 and not a single close was above that for the entire week. As said in my previous weekly analysis below 5973, it went on to fill the low volume area around 5980-5960-5940.
What's in Store for the coming week?
Based on values and the chart pattern, we see huge resistance developing around 5990-6010, and only above that Nifty will be back in Bull territory. Staying below 5950, the low volume area from 5950-5910 should get filled. Staying above 5950, the 80% rule may kick in to move the index back to 6000 level.
Hope this Helps :)
The Bears had a good week, with Monday starting with the Highs at 6042 and closing on Friday at the low at 5943.55 (Adjusted closing just above at 5951.30), making a gain of around 100 points. Coming back to the chart pattern, Nifty was sold thrice from around the WVAH of 6017 and not a single close was above that for the entire week. As said in my previous weekly analysis below 5973, it went on to fill the low volume area around 5980-5960-5940.
What's in Store for the coming week?
Based on values and the chart pattern, we see huge resistance developing around 5990-6010, and only above that Nifty will be back in Bull territory. Staying below 5950, the low volume area from 5950-5910 should get filled. Staying above 5950, the 80% rule may kick in to move the index back to 6000 level.
Hope this Helps :)
Sir,
ReplyDeleteNo opening bell for 14/01/2013??
Dear Sir,
DeleteDue to some unavoidable circumstances we could not update this blog regularly. We apologize for the inconvenience caused to you.
Regards,
Nifty Pulse team