July 1, 2015

Nifty trend update

  • First chart shows the Descending triangle pattern in weekly chart. Price has moved from the support zone of the pattern to its resistance line.
  • Another hurdle for the bulls is the 20 Week SMA.
  • Major up trend for nifty will be safe till the swing low around 7940 - 7960 is not broken on closing basis.

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