NIFTY Weekend update

 

• Nifty weekly chart has closed above the golden ratio. Intra week weakness was a trap and nifty bulls resumed the primary trend on the last day of the week.
• Second chart shows possible resistance lines for the coming weeks.
• 3rd chart shows the Power of weekly candlestick patterns. Bearish engulfing in weekly chart was followed by a down trending market. Now we are moving up after a weekly bullish engulfing pattern.
• Last chart shows possible resistance level in monthly chart in the form of Monthly upper Bollinger band.

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