CMP : 5087
As a Trend Follower , Nifty currently looks thus :-
On Hr TA : BEARISH (close < below 5hrLEMA)
On Day TA : BEARISH (close < below 5DLEMA @ )
On Wk TA : BEARISH (close < below 5WkLEMA @ 5150)
On Mnth TA : Oscillating bt/w MnHi-LoEMAs ( price > 5Mnth-Lo-EMA = 5025)
For Bulls, In May '12 (Month TA):-
Nifty needs a close > 5025 & then take out 5191
For Bears, In May '12 (Month TA):-
Nifty needs a close < 5025 & then take out 4880
Since CMP is v close to 5025 , currently, I would like to observe how things play out on the Lower Wk & Day TA, for the next few days before pronouncing a verdict !
Prima Facie , vide the DATA available till date, my view is MORE DOWNSIDE IS POSSIBLE
More as the week goes by ....
cheers
As a Trend Follower , Nifty currently looks thus :-
On Hr TA : BEARISH (close < below 5hrLEMA)
On Day TA : BEARISH (close < below 5DLEMA @ )
On Wk TA : BEARISH (close < below 5WkLEMA @ 5150)
On Mnth TA : Oscillating bt/w MnHi-LoEMAs ( price > 5Mnth-Lo-EMA = 5025)
For Bulls, In May '12 (Month TA):-
Nifty needs a close > 5025 & then take out 5191
For Bears, In May '12 (Month TA):-
Nifty needs a close < 5025 & then take out 4880
Since CMP is v close to 5025 , currently, I would like to observe how things play out on the Lower Wk & Day TA, for the next few days before pronouncing a verdict !
Prima Facie , vide the DATA available till date, my view is MORE DOWNSIDE IS POSSIBLE
More as the week goes by ....
cheers
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