Friday, September 11, 2009

BULL POWER


***factors favouring bulls---
--downward trendline broken in nifty.
--macd shows positive divergence.
--downward trendline broken in rsi also.





--today in secong part of the day bulls were having more power then bears.
--from 4832 to 4791, nifty consumed almost 15 candles but 4832 was taken out from 4791 in just 9 candles suggesting of the bull power.
--now interesting part to note is that from 4846 to 4791 nifty cosumes almost 38 candles.
--so if 4846 is taken out on monday before 11 A.M. then whole correction will be over and nifty will resume its uptrend again.