Wednesday, 21 September 2011

Nifty Outlook for 21-09-2011

Nifty Daily Chart: Impressive move yesterday. As I said for the past two days, Nifty gaining ground and also momentum. Am watching out for Nifty to touch cluster resistance area for Nifty and to get a clarity on the next major move.
All am looking at for the moment is: Will Nifty manage to hit the higher resistance line marked in green and close the gap?
In all probable case it should. RSI has yet again marked another bullish divergence; BB has turned towards upside and MACD is still looking strong. In all probable case it should be a smooth drive for the Bulls for the rest of the week.

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