NIFTY Weekly Chart Technical Analysis
NIFTY closed at its resistance on 5Sep14.
It's be a superman-week for NIFTY - up, up & away!
The index has hit resistance near 8086, the weekly closing on 5Sep14.
The 50-day SMA is happily facing north, volume has fallen but still above the average, RSI is above 70% as well. All positive signals.
If the index jumps above resistance, we well see some new market high next week. Otherwise there could be some correction to around 7850 levels before hitting support.
NIFTY Weekly Chart Technical Analysis
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