- Nifty is testing the support line of the broadening pattern. Last time price failed to close below this line and a big up move followed towards 8900 levels.
- Month chart looks like its going to give its 1st bearish candle after 6 Bullish ones in a row. Provided there is no made reversal in the remaining day of the Month.
- Weekly chart is falling from the bearish PIN BAR. Next crucial level for bears to break is the zone between 8515 and 5545. This is a possible support zone in weekly chart. If this is not held then nifty could fall below 8300 levels.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
September 29, 2016
Nifty Chart analysis
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