July 1, 2015
- First chart shows the Descending triangle pattern in weekly chart. Price has moved from the support zone of the pattern to its resistance line.
- Another hurdle for the bulls is the 20 Week SMA.
- Major up trend for nifty will be safe till the swing low around 7940 - 7960 is not broken on closing basis.
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.