September 7, 2016

Nifty testing the line of Weakness

  • Month chart does not show any weakness yet. 7th Bullish candle being formed. Price likely to test the previous monthly resistance zone.
  • Daily chart is testing the line of weakness. This can only be called as line of weakness as price has given only sideways correction followed by swift up moves. Price yet to form a lower low. Panic for bulls only if price starts to trade below 8700 levels. 

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