NIFTY IN NOVEMBER SERIES

NIFTY MONTHLY

MONTHLY RANGE : 4484 TO 6542

BOLLINGER BANDS : +BB3 = 6542 , +BB2 = 6198.30(R3) , +BB1 = 5855.00(R2)

                                       20 DAY MOV. AVG. = 5512.00(R1)

                                    -BB1 = 5169.50(S1) , -BB2 = 4826.80(S2) , -BB3 = 4484.00(S3)

RSI : RES = 60 , SUP = 40.

CONCLUSION : On monthly charts the price action is below the 20 day moving average ,hence the trend is down.

NIFTY WEEKLY

WEEKLY RANGE : 4340.40 TO 6069.30

BOLLINGER BANDS : +BB3 = 6069.30(R3) , +BB2 = 5791.20(R2) , +BB1 = 5498.90(R1)

                                       20 DAY MOV. AVG. = 5204.90(PIVOT)

                                    -BB1 = 4916.70(S1) , -BB2 = 4628.50(S2) , -BB3 = 4340.40(S3)

RSI : RES = 80 , SUP = 60.

CONCLUSION : On weekly charts the price action is above the 20 day moving average ,hence the trend is up with supports at 5204.90.

 

NIFTY DAILY

DAILY RANGE : 4540.00 TO 5599.70

BOLLINGER BANDS : +BB3 = 5599.70(R3) , +BB2 = 5403.20(R2) , +BB1 = 5252.60(R1)

                                       20 DAY MOV. AVG. = 5079.10(PIVOT)

                                    -BB1 = 4905.50(S1) , -BB2 = 4712.60(S2) , -BB3 = 4540.00(S3)

RSI : RES = 60 , SUP = 40.

CONCLUSION : On daily charts the price action is above the +BB1  ,hence the trend is medium bullish. Nifty was supported at the +BB1 level of 5252.60(5258.90 actual).

NIFTY HOURLY

HOURLY RANGE : 5235.70 TO 5458.60

BOLLINGER BANDS : +BB3 = 5458.60(R3) , +BB2 = 5409.00(R2) , +BB1 = 5374.00(R1)

                                       20 DAY MOV. AVG. = 5339.50(PIVOT)

                                    -BB1 = 5304.90(S1) , -BB2 = 5270.40(S2) , -BB3 =5235.70(S3)

RSI : RES = 40,60 , SUP = 20.

CONCLUSION : On hourly charts the price action is below the –BB1 level of 5304.90 ,hence the trend is down  with supports at 5270.40 and 5235.70.

Happy Trading !