NIFTY Resistance at 3700!?!
Posted by JV on May 14, 2009
NIFTY showing resistance around 3700. Chaiking Money Flow (CMF) also suggest distribution(sell) as the histrograph is in postive but in negative divergence.
ADX give away intersting indicator. ADX come down to around 34 suggesting slowing down of the speed. Further today -DI line has crossed over +DI suggesting bears in charge. Perhaps it is time to short if tomorrow remain the bears day!
