Nifty levels for 23 March

By | March 23, 2011 3:36 am

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 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



Category: Nifty Technical Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

Leave a Reply