Weekly Chart
Daily Chart
Technicals did give indications of things to come -read the political events- with the Triangle breakout which continued on huge volumes. Nifty has reached a resistance area as shown on daily charts and needs to cross the 5740 and breakout of the red channel.Support exists at 5562 on the uptrendline from 5215.
Once this resistance is taken out the 5944 area will be easy to reach.This area though should attract good pullback as it is a strong resistance area.Weekly oscillators too show room for more upsides.Buy on dips.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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