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 http://stockarchitect.com/ 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