WEEKLY NSE 30 TECHNICAL ANALYSIS FOR WEEK ENDING 21062019.
MARKET SENTIMENTS IS NEGATIVE ON ALL THE THREE TIME FRAMES.
1. Monthly Chart: You will notice that price has broken 1245.28, turning it into resistance. Volume has been low, indicating less selling pressure, which is a good sign.
2. Weekly Chart: There is a pulse in the market which indicate we have to watch out for price action for the coming weeks to determine market direction. Price is still bearish on the weekly chart and notices monthly resistance line is still intact, and the weekly closes below the monthly resistance.
3. Daily Chart: Attempted fail rally due to price overextension as mention last week. The sentiment is negative price close below the monthly resistance.
CONCLUSION :
Retail investors should stay out of the market and wait for the coming bull market.
MARKET SENTIMENTS IS NEGATIVE ON ALL THE THREE TIME FRAMES.
1. Monthly Chart: You will notice that price has broken 1245.28, turning it into resistance. Volume has been low, indicating less selling pressure, which is a good sign.
2. Weekly Chart: There is a pulse in the market which indicate we have to watch out for price action for the coming weeks to determine market direction. Price is still bearish on the weekly chart and notices monthly resistance line is still intact, and the weekly closes below the monthly resistance.
3. Daily Chart: Attempted fail rally due to price overextension as mention last week. The sentiment is negative price close below the monthly resistance.
CONCLUSION :
Retail investors should stay out of the market and wait for the coming bull market.
