September 7, 2016
- Month chart does not show any weakness yet. 7th Bullish candle being formed. Price likely to test the previous monthly resistance zone.
- Daily chart is testing the line of weakness. This can only be called as line of weakness as price has given only sideways correction followed by swift up moves. Price yet to form a lower low. Panic for bulls only if price starts to trade below 8700 levels.
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.