Nifty Analysis 01 Dec

Nifty took the support of Hour lower trendline at 4760 and traded higher. It has closed well above the lower trendline of Day. Now the support for Nifty is at 4780. The middle line is falling rapidly and now it is positioned at 4975, this number will come down as each day pass by. One can expect nifty to trade around 4950 levels. The trend is still down and a firm close above 5100 will make it up.





This indicator is a positional indicator, hence use the day numbers. Hour numbers must be used as a guideline only as it was traded today.