Daily Chart
Half Houly Chart
Nifty is seen whipsawing around the resistance line of the rising
wedge.A spinning top was formed showing indecision.5839 is still held
and that is the level we need to watch for further direction. If holds
Nifty can continue to move up to 5965-6050 levels and if breaks then a
downmove till 5700 is possible.This has already been explained in the
Newsletter yesterday and shown on the half hourly chart.
Half hourly chart shows today's action making a minor resistance at
5886.A move above this will be the first sign of the upmove
resuming.Nifty has broken below the short term uptrendline indicating
the neckline at 5839 may be in danger of breaking down.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
Lakshmi Ramachandran
www.vipreetsafetrading.com
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