Technical Analysis

18/07/2012

Nifty

Nifty closed  at slightly bear note at 5192.Nifty remained under selling pressure .The oscillator is showing SELL siganl in Short Term .

So in next session of trading  the first resistance for nifty is at 5226 level. further resistance levels are at 5259 and 5281 levels.

downside first support is at 5171 level. Next supports are at 5149 and 5116 level.

Level 5156.30 and  5162.50 have a strong supports at 50 ema and 200 ema respectively.

Now, Nifty if holds on to support zone of 5204, it may test first intraday resistance.

17 July 2012: PCR_OI:1.15 PCR:0.809 and  17 July 2012 Premium: 5.8 Futures OI:24318250.0

BankNifty

Banknifty Oscillator Analysis  is now trading in overbought level

In my veiw , Banknifty is  in primitive phase of  weekness on weekly and daily chart for short term.

resistance 10648, 10738 and 10802 and support 10493 ,10428 and 10338