Nifty daily chart
Nifty has made a sharp bounce back from channel support level. But now it will face resistance at trend line (marked in red , 200 DMA which is around 5660 and then upper part of channel which is also at 5660. So over all Nifty will be in a narrow range and keep surprising traders with sudden pull back or fall. Stay cautious.
Nifty medium term trend
| Trend | DOWN |
| Initiation Date | 26-02-13 |
| Initiated at | 5761 |
| Low since change | 5569 |
| Reversal if closes above | 5780 |
Thought for the day
The mind has to be made
malleable like clay. Just as clay sticks wherever you throw it, so the
mind must be made to dwell upon whatever object you concentrate it. - Swami Vivekananda
No comments:
Post a Comment