March 10, 2016

Nifty trend update

  • Nifty month chart is trading near the Down trend line and the up trend line. For the next big move price need to close above or below these lines.
  • 2nd chart weekly line which shows weakness near 20 Week SMA. So for bulls price has to close and sustain above 20 Week SMA to avoid the trend.
  • Daily chart is trying to stay above 50 Day SMA. Price closing back below 50 Day SMA will strengthen bears again.

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