UPDATE - II
- Channel resistance line discussed below has worked in favor of bears. If the channel support line or 100 Hour sma holds we may see an up move.
- Breaking below both these levels could extend the fall.
UPDATE - I
- Nifty hour chart shows price moving in a sideways channel. Channel has to be resolved on closing basis for bigger moves to happen
- 2nd chart shows price with 100 Hour SMA. Which is crucial for bulls. holding this level Nifty may try to breakout above this crucial resistance zone.
- Breaking below 100 Hour SMA shall result in a breakdown.
- NIFTY WEEKEND UPDATE