Weekly technical Analysis for week ended
28th March 2015.
Nifty for past
three weeks is continually falling and the closing was at the lowest of the day
which is an indication that the bears are ruling the market and are trying all
means to take the market down. One important thing has happened in the market
during the current weak, nifty has moved below 100 day EMA for the first time
after one year which is a bearish indication. Previously in Feb 14 it moved
below it and immediately in market it moved above it. This time it has moved
below 100 day EMA in the month of March 15. We have to see whether the market
reverses and move above it in the coming
week. If it does so then it would be some good news for the bulls. Now if it
doesn’t then it would be heading towards 200 day EMA which is at 8111 as of
now. 200 day EMA should provide good support for the market as it has been
doing for past two to three years. If 200 day EMA is violated then we can be
sure that bears would tear into the market. S
Another scenario
which is unfolding as of now which is pointing towards probable bearish
scenario.20 day EMA is on the verge of moving below 50 day EMA. As of now 20 is
above 50 but whenever cross over occurs that would point out to bearishness in
the market. So the coming weeks is going to be very crucial as it has chances
of giving the probable direction for the coming months. So the coming month of
April is going to be very very crucial for the market as it can be gateway to
bull and bear market. So keep tracking the market.
It can be seen in
the above chart, the blue circle is showing the movement below 100 day EMA and
the yellow circle is showing the probable movement of 20 day EMA below 50 day EMA. Wait and watch for the coming
month which is going to be very interesting.
Mahiidar M
Enjoying Life
Trend is Freind.
