September 13, 2016

NIFTY Chart update

  • Bulls managed to keep price above 50 Day SMA for now.
  • Month chart shown with its upper shadow which is crucial for bears to protect. Price moving above 8793 will fade this upper shadow. 
  • The bearish PIN in weekly chart will remain intact if the up move stays below the shadow of the candle. Any move into the candles upper shadow will reduce the significance of the candle.
  • NIFTY Trend update

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