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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