Weekly Chart
Daily Chart
Good bullish candle on very good volumes on weekly as well as daily charts giving a breakout from
important downtrendlines shows the bulls are back. Breakout from the red triangle on weekly charts gives a target of 6300.
OBV which had predicted the upmove has surpassed highs made corresponding to Nifty's 5740 and nearly reached top corresponding with 5944 indicating Nifty has strength to continue the upmove.Oscillators in the overbought territory showing strength.
OBV which had predicted the upmove has surpassed highs made corresponding to Nifty's 5740 and nearly reached top corresponding with 5944 indicating Nifty has strength to continue the upmove.Oscillators in the overbought territory showing strength.
5630 will be stiff resistance as it is the previous top and the 61.8% retracement level is placed close at 5641.
Buy on dips
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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