Nifty
Based on daily chart I had mentioned about possible target of 6100. But today there was a sudden decline. Above is the hourly chart of Nifty. You can see that Nifty reached a critical resistance level and then corrected. 5900 was acting as resistance now it can act as intermediary support. Downtrend will continue if Nifty closes below 5900.
Tech Mahindra
Tech Mahindra has formed double top which is a bearish formation. There are possibilities of correction. Lets see.
Disclaimer : Charts presented here are not for
recommendation or to advice . They are for educational purpose. More details
such as stop loss , target are shared with subscribers.
Nifty medium term trend
| Trend | UP |
| Initiation Date | 01-07-13 |
| Initiated at | 5898 |
| High since change | 6038 |
Thought for the day
Don’t take yourself so seriously.
No one else does !!
