NIFTY WEEKLY CHART :
TARGET 5400 ? : TRENDLINE (IN PINK) HAS RESISTANCE AT 5400 WHICH IS INCIDENTLY WHERE THE SECOND TRENDLINE( IN BLUE ) IS CONVERGING WITH THE PINK TRENDLINE ,
Sunday, April 4, 2010
NIFTY 01.04.10
NIFTY WEEKLY CHART :
TARGET 5400 ? : TRENDLINE (IN PINK) HAS RESISTANCE AT 5400 WHICH IS INCIDENTLY WHERE THE SECOND TRENDLINE( IN BLUE ) IS CONVERGING WITH THE PINK TRENDLINE ,
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most markets are suffering from congestion area. The blue trend line in your chart was a good support/channel base which was breached on the down side. That indicated an upcoming correction but markets held really well giving a case for the bulls. The key would be a breach up on new highs as well as close above the blue line to give some credence to bullish case. Until then it can be anyone's market.
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