Nifty Futures
Weekly (Long Term)
DEMA (20, 50, 100) Aligned to perfection.
Candle took support at 20 DEMA and bounced back which shows strength.
Volume shows selling which indicates that we may see short covering soon.
MACD did give us profit booking signals but is still in the bullish zone.
RSI has a recent downtrend but it isn't sharp and scary. We might see a strong recover.
Daily (Medium to Long Term)
The DEMA is aligned as well but there is a slight weakness in the 20 DEMA.
Candles have taken support near 100 DEMA which is a good sign and we can expect a recovery.
Weekly charts did indicate that we might see some buying which we do see in the Daily Charts.
MACD is weak but neutral.
RSI is in the bearish zone but there is a reversal.
Hourly (Short to Medium Term + Support and Resistance levels)
Support: 14350 & 14290
Resistance: 14750 & 14850
A strong bullish pattern, cup and handle has been made.
Immediate support at 14500.
Volumes show buying on the graph.
MACD is showing a reversal in the bearish zone.
RSI is strongly moving towards the bull zone.
15m (Intraday + Immediate Trend Check)
Trend: Not clear
DEMA is aligned well (5, 10, 20) which is a good sign.
Buying on the volume graph.
MACD showing a strong bullish move.
RSI, bullish but heading towards the overbought zone but this may change.
So, do I see 15000 back on charts? Yes!
Weekly (Long Term)
DEMA (20, 50, 100) Aligned to perfection.
Candle took support at 20 DEMA and bounced back which shows strength.
Volume shows selling which indicates that we may see short covering soon.
MACD did give us profit booking signals but is still in the bullish zone.
RSI has a recent downtrend but it isn't sharp and scary. We might see a strong recover.
Daily (Medium to Long Term)
The DEMA is aligned as well but there is a slight weakness in the 20 DEMA.
Candles have taken support near 100 DEMA which is a good sign and we can expect a recovery.
Weekly charts did indicate that we might see some buying which we do see in the Daily Charts.
MACD is weak but neutral.
RSI is in the bearish zone but there is a reversal.
Hourly (Short to Medium Term + Support and Resistance levels)
Support: 14350 & 14290
Resistance: 14750 & 14850
A strong bullish pattern, cup and handle has been made.
Immediate support at 14500.
Volumes show buying on the graph.
MACD is showing a reversal in the bearish zone.
RSI is strongly moving towards the bull zone.
15m (Intraday + Immediate Trend Check)
Trend: Not clear
DEMA is aligned well (5, 10, 20) which is a good sign.
Buying on the volume graph.
MACD showing a strong bullish move.
RSI, bullish but heading towards the overbought zone but this may change.
So, do I see 15000 back on charts? Yes!