February 3, 2017

Nifty Weekend update ( Month charts).

  • Nifty month chart did a Morning start kind of reversal . The negative divergence in daily chart was negated by the bullish formation in Month time frame.
  • Price is now entering previous resistance zone between 8810 to 9119. 
  • Only if price is able to sustain above this zone a bigger breakout can be confirmed. Daily and weekly candles if shows weakness in this zone can lead to a reversal.