Technical Analysis

Technical Analysis


16 December 2021

This report is technical analysis of Nifty 50 on the basis of Daily & Weekly Chart

Nifty Technical Analysis

Technical Analysis - Daily

Daily Chart

Technical Analysis on base of Daily Chart

Current level is 17311

First support is 17288 (18 Day Exponential Moving Average)

Second Support is  16888 (Bollinger Band)

First Resistance 17375 (8 Day Exponential Moving Average)

Second Resistance17743 (Bollinger Band & 50 Day Exponential Moving Average)

RSI – 46 – Neutral

MACD –  Parallel so neutral

Technial Analysis - Weekly

Weekly Chart

Technical Analysis on base of Weekly Chart

First Support is 16283 (Bollinger Band)

Second support is 15988 (50 day Exponential Moving Average)

First Resistance 17421 (Bollinger Band)

Second Resistance 17537 (8 day & 18 day Exponential Moving Average

RSI – 55 Neutral

MACD – Parallel so neutral

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Disclaimer : All information in this report is collected from various sites on internet. Although we have taken all precautions for correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed  is authors own views. We are not responsible for any losses on account of following the same.