May 11, 2011

NIFTY - Weekly Trend lines

  • Nifty Weekly chart shows trend line support for nifty between 5300 - 5400 levels. 
  • So breaking this level will be tough for bears. If they manage to do that we may see bigger correction in Nifty.
  • In the short term Bulls are not able to cross 5550 level on closing basis. If price keep on getting resisted here it is negative for the short term bull. 

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