April 28, 2011

NIFTY Violates support line

  • Nifty Closed below the support line.
  • We may see nifty moving towards the lower end of the range before going up.
  • Nifty has violated the support line in hour chart.
  • Now Bulls has to hope that this is a false break below the support line.


  1. I am not sure the validity of this trendline to be honest mate. I still think Nifty is in a broader range and am looking for breakouts to upside. I put some charts up on the bottom of this post: http://swingtradersedge.blogspot.com/2011/04/china-its-do-or-die-time.html
    Pls read and let me know your thoughts. Thanks

  2. @Austin
    You are right about the range. This trend line break may bring price to the bottom of the range. The range itself is still valid not yet broken. Your charts look good. Nice work going on at your blog.

    Thank you

  3. Dear San,

    I have missed out on few posts related to Indian market...please guide me how to get all posts for indian market with latest at top.

    Appreciate your hard work.

    Best regards,