last week predicted that " Nifty may trade between 5885 - 6050 level for week ending 08 Feb 13..." at http://www.dhanvarsha.in/2013/02/nifty-analysed-for-week-ending-08-feb-13.html
and Nifty traded between 5883 to 6038 ....
as per weekly chart levels are 5955 5910 5825 5730
trend is bearish after hanging man 2 long red candles as per candle stick analysis we can expect third long red candle...we can say 3 black crows...
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Daily chart is showing that market entered in bearish zone closed below 50 DMA..
RSI is trading below 30 so few traders /analysts may advise to buy on dips but avoid entering long till the time trend is bearish and market is trading below 20 and 50 DMA...Smart money is continuously going out money flow is trading at 20 ...
Conclusion ..
Mood bearish
Nifty may trade between 5725 - 5850 level for week ending 15 Feb 13
Dhanvarsha cares ....
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and Nifty traded between 5883 to 6038 ....
as per weekly chart levels are 5955 5910 5825 5730
trend is bearish after hanging man 2 long red candles as per candle stick analysis we can expect third long red candle...we can say 3 black crows...
.png)
Daily chart is showing that market entered in bearish zone closed below 50 DMA..
RSI is trading below 30 so few traders /analysts may advise to buy on dips but avoid entering long till the time trend is bearish and market is trading below 20 and 50 DMA...Smart money is continuously going out money flow is trading at 20 ...
Mood bearish
Nifty may trade between 5725 - 5850 level for week ending 15 Feb 13
Dhanvarsha cares ....
Join Dhanvarsha Now
