December 15, 2015

Nifty Month Week and Day

  • Nifty month chart shows the Major up trend in play from 2200 levels. The correction is happening above the up trend line. If the correction continues price may test the up trend line any were between 6800 - 7000 levels depending on how much time price takes to fall.
  • Weekly chart can negate the above view if price takes out the falling down trend line shown in 2nd chart. Price for now is sitting on a crucial swing low(7539). If this number is not held on weekly closing basis the correction towards the Month up trend line is likely to continue.
  • Day is stuck between 7539 and 7700 levels. Immediate strength and weakness on closing outside these levels.

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