- 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.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
August 19, 2010
Nifty futures month chart
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