June 25, 2016

Nifty weekend update

  • Nifty's bulls manage to stay above the rising support line drawn from 7405 levels. 
  • There was an intraday violation of 50 Day SMA line. But bulls manage to close above this crucial moving average. No big weakness till price stays above these two levels.
  • Month chart for now shows a pause after 3 Bullish candles. Month has one more trading week to go so bulls need to close back above 8200 levels to keep the bullish momentum intact.

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