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Sunday, January 1, 2012

Nifty: Week ending - 30th December 2011

Recap:  We reviewed the past week's action here. From a neutral position coming into last week   the Nifty ended in the red but within our range .. world markets however ended the week in neutral zone.


Nifty - End of Day Chart - 30 12 2011
Nifty End of Day Chart:  The bearish cross of the 5 EMA below the 13 SMA promises more downside - notice the resistance line on the STS indicator - same needs to be cracked by the Nifty before one sees the Bulls in some real action..

Nifty - End of Week Chart - 30 12 2011
Nifty End of Week Chart: This week's candle also closes below the crucial 200 Week MA - the resistance/support line on the STS has just about given in. Both challenges the Bulls would have to face next week.
Nifty - End of Month Chart - 30 12 2011
Nifty End of Month ChartBear zone and falling without a relief last couple of months...one looks for the 5 EMA to be retaken by the Bulls here.


Looking Forward:  Going into 2012 - Nifty is in deep red while the SP500 and Europe show a neutral color. Bucking the trend and moving above 4650 one expects the Nifty to attempt the higher end of our range (EOD chart) for the week. Current trend however should take it to the Fib50x.