ritesh's research reports
Sunday, July 25, 2010
NIFTY 25.07.10 (B)
WEEKEND EDITION
:
NIFTY WEEKLY CHART
RISING WEDGE:
NIFTY HAS FORMED WHAT LOOKS LIKE A RISING WEDGE PATTERN ON WEEKLY CHART WHICH IS A BEARISH SIGNAL
IN ODER TO NEGATE THIS PATTERN NIFTY HAS TO BREAK THE UPPER TRENDLINE WHERE THE RESISTANCE IS AT 5500
IN CASE OF BREAKDOWN THE TARGET WOULD BE CALCULATED AFTER THE BREAK OF THE LOWER TRENDLINE
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