Nifty Weekly Analysis for Week starting 30 April

The April Series has been listless series which can be best summarized as the series of consolidation after a Topsy turfy ride in volatile march series. Consolidation is an integral part of market which is very much required before next big move. May Series promises to be a month of big moves. Lets jump into technicals on what in for Nifty for month of May.

Nifty Hourly Chart

Hourly chart are trading below the 50 HSMA which means bears are strong upper hand till Nifty is trading below 5226. Bollinger Band pattern forms bands are getting contracted means volatile and directional move are in offing for Nifty.

Nifty Daily Chart

On Daily chart formation falling wedge pattern is still valid till ...

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