Technical updates on Nifty

Nifty daily chart

Nifty has continued down trend . It has an intermediary support around 5700 . However it is likely to be breached as RSI is not over sold . 

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5718

Thought for the day

Remember if people talk behind your back, it only means you are two steps ahead.

Technical updats on Crude Oil

Crude Oil daily chart

Crude Oil is trading at an important support level . Down trend will resume if it close below this level . We are holding short since 6600.

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5864

Thought for the day

Mighty plans of action can be undertaken only by equally mighty men. A man is mighty according to the amount of energy and concentration and tranquility of mind he can bring into his undertaking with confidence in himself and faith in the goal he has chosen to reach - Swami Chinmayananda

Medium term down trend started

 

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
High Since Change	5873

Breakdown !!

Nifty

Nifty has failed to sustain above trend line resistance . Now it is likely to reach 5700 . 

Nifty medium term trend

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	6142

Thought for the day

A well-developed sense of humor is the pole that adds balance to your steps as you walk the tightrope of life.

Updates on Nifty and LT

Nifty daily chart

Nifty has closed above trend line resistance for two consecutive days which is a bullish sign. Short term trend will remain positive as long as Nifty is above 5980.

Nifty weekly chart

Nifty has also breached trend line in weekly chart . There is every possibility that Nifty will reach 6200 provided Nifty sustains above trend line. 

LT

LT has been forming lower top lower bottom since many weeks . Now it has once again reached trend line resistance . If LT closes above this trend then further rally can be expected . 

Nifty medium term trend

 

Trend	UP
Initiation Date	05-09-13
Initiated at	5592
High Since Change	6142

 

Thought for the day

 

 Don’t ask what the world needs. Ask what makes you come alive, and go do it. Because what the world needs is people who have come alive .