WEEKLY NSE 30 TECHNICAL ANALYSIS FOR WEEK ENDING 21062019.
MARKET SENTIMENTS IS NEGATIVE ON ALL THE THREE TIME FRAMES.
1. Monthly Chart: You will notice that price has broken 1245.28, turning it into resistance. Volume has been low, indicating less selling pressure, which is a good sign.
2. Weekly Chart: There is a pulse in the market which indicate we have...
WEEKLY ANALYSIS OF NSE30 INDEX : WEEK ENDING 07062019
A vital support zone has been established on a monthly chart. The week ended with bear in control.
Watch out for price crossing below 1257.6 that will strengthen bear position and also established supply zone.
The last three weeks candle setup is also a bearish candle formation.
May Trading Update :
There is a pulse in the downward direction. I am expecting ether continuation in the downward direction or reversal of trend next month.
I favour the continuation of the trend because there is no selling climax on the monthly chart yet.
1100 is a significant level to watch on the monthly chart.