Power Grid: Continues in Price Channel

POWER GRID Daily BSE Stock Chart Technical Analyst:

Power Grid had a slight fall today, but over all has continued remaining in the range of 94-100.

Check the previous post about Power Grid, trade strategy remains the same.

POWER GRID Daily BSE Stock Chart Technical Analyst 

NIFTY: Didn't Break Resistance

NIFTY Daily Chart Technical Analysis:

NIFTY today had a fall again.  I was expecting this to happen next week but it happened a day sooner.

Close & CMP: 5459

Market Outlook:

The index reversed today after 5 days of rise.  

Technical Indicators:

The momentum showed a slow down today as compared to the previous days and a bearish engulfing candlestick pattern was formed.  Both negative signal.  But the weekly chart momentum has recently shown a rise which is a conflicting signal.  Let's wait a day or two for the final decision on which way this is headed.

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NIFTY Daily Chart Technical Analysis