Nifty Weekly Technical Analysis for 2013 Part I

Nifty gave then Highest Weekly Close in last two Years (2011-2012).Nifty and Sensex continued with there consolidation phase, positive takeaway from last week’s movement is that the Sensex is holding above 19,000 and the Nifty continues above 5,825 which gives bullish touch this phase of consolidation. All eyes on US fiscal cliff talks which are going on in US? All Financial Markets are having eyes on Will US be able to avoid the Fiscal cliff? Want to Know what is Fiscal Cliff (The Fiscal Cliff Explained http://bit.ly/VJAcSS)
Lets discuss Nifty Trading Strategy for Next week.

 Nifty Hourly Chart

Nifty continues to trade above or below the important 50 Hour SMA , as discussed in last post till 5930-5830 is not crossed either stay out of trade or buy support sell..

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