WEEKLY REVIEW

HI ALL

In this week nifty start decline from highs

in daily chart it breach the trend line ,on Friday last one hour market bounce back from its lows ,we see these level in coming days if nifty sustain the trend line support &

bounce back then we see the 4450,4650 or it not sustain then we see the more weakness in nifty 4092,3837 level.RSI is above 50,

macd is clearly in -ve trend. when we see the volumes increase in graph it feels that there is distribution in the market .

overall in daily graph next 2-3 days is important that if nifty hold these levels we can see the higher level otherwise there is weakness in the market .

In weekly graph RSI comes down from overbought zone so it shows weakness in near term ,nifty just closing below the 5week ema(shown in the graph).MACD is bullish there is no sing. of weakness.

overall in weekly graph there is weakness in short term,if nifty hold the 3800 level in coming week & bounce back cross the 4650 level .There is head and shoulder reversal pattern the target may be 5275 or 6000 in nifty i don't know.

In monthly chart RSI is bullish above 50,last week we see bullish crossover in MACD but in this week turned -ve .In nifty graph we assume support at 3837.

overall monthly chart also show bullishness.

So investor are suggested, buy on dips 4092,3825 is the best level to buy .If nifty bounce back up to 4450 ,4650. Position hold if these levels are sustained ,if they are not sustained book your profit.