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.

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.