- Nifty has been in consolidation mode for more than 11 months now.
- Today nifty has broken the monthly resistance line
- Big profits for the bulls can be expected only if the index stays above the resistance line.
- If the index falls below the resistance line correction will follow.
- Staying above the resistance line should give the expected result after a consolidation breakout. In this case the consolidation range is more than 500 points. But the breakout area is crucial.
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