Nifty Technicals for Budget Day

Hi All,

http://www.brameshtechanalysis.com/ is having some technical issues,Hence it's down inconvenience regretted.I would be posting my views for coming week on Blog till than the Site should go up and running.

Nifty Hourly Chart

As seen from Hourly Chart 5340 is resistance for monday and a impulsive move above this could take Nifty back to 5400 Levels
RSI and STOCH are showing positive divergence which is quiet evident and we would looks for price move to confirm.

We should see a Huge round of volatility and my suggestion to all traders is Keep Booking profit coz in a fraction of Mins a profit making positions can turn to Loss.

On Friday Nifty gave 80 points move in 3 Mins just to give a sense of volatility which we will see.



Nifty Positional Buy/Sell System

Nifty Positional trading system gave a Buy which was stopped out at 5460 and now again sell was generated at 5428 levels which is going on in current downmove and we making more than 100 points.
Nifty Daily

 

Nifaty Daily is showing a support at trendline which we saw from high of 6188 and now if this trendline breaks we can see a retest of 5177 level and after that 5100-5000 levels will be seen

IF 5233 is protected on Monday than we should see 5417 levels which is middle of bollinger band and Monthly Low EMA also.

 Nifty Weekly Chart

 

Nifty Weekly Pivot:5354

Resistance:5476 and 5648

Support:5177 and 5067

Nifty Monthly Chart

Nifty Monthly 5 Low Ema is at 5417 and this level should be taken out if we need to be in BUllish scenario 

Will Pranab Da make this possible ??

Monday we will get the real picture