Nifty Analysis for 30 Nov

Nifty closed just 5 points above the lower trendline giving a glimmer of hope for the bulls. The close has to be above 4850 for the bulls to take it to the middle line.
As of today the middle line is at 5000, this level will come down day by day..Hence if at all there is any bounce then the target should be around 4950 to 4975.



The hour timeframe shows that if the hourly close is below 4750, then no hopes for the bulls. Nifty, then will continue its journey southwards.



always use hour timeframe as guideline and use Day numbers.. The indicator is a positional indicator and should not be used for intraday trading...

Soon I will be writing a guide on how to use the indicator...
Tomorrow will be an interesting day.

Thanks.