Nifty Weekly Technical Levels for Week 3 Jan 2011
Wishing All Readers a Happy and Prosperous New Year 2011.
Nifty is highly overbought on Hourly Charts and a correction till 6060 can be seen in coming week as it is fibo levels from low of 5690 to high of 6147 we have witnessed in recent rally. Risk to Reward ratio is not in favor of entering new longs as of now.
MACD is coming in positive region and RSI is showing negative divergence on Daily chart as marked in above chart.
Traders holding Long position should keep a SL of …
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posted by Bramesh at
8:51 AM
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