Recap: We had a week where the EOD charts saw the Price touch an important Fibonacci level plus a Channel top line rather EXACTLY . The EOW charts had the price closing above the 200 DMA after some time. The Nifty is in a good place now for the Bulls. What next....
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| Nifty - End of Day Chart - 13 Jan 2012 |
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| Nifty - End of Week Chart - 13 Jan 2012 |
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| Nifty - End of Month Chart - 13 Jan 2012
Nifty End of Month Chart: A Bullish Harami is what the last two candles indicate at the present moment ... but the point to notice is the up tick in the indicators and the green candle for the month.
Looking Forward: A strong move above the resistances mentioned in the EOD is what one needs to start the week on a Bullish note. The same resistance is important enough to act as the nemesis of the Bulls. Current picture is green for Nifty - so long as its above 4800 it remains green for the next couple of days at-least ... intra week updates shall be up.
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