Technical updates on Nifty

Nifty daily chart

Nifty has reached 6200 and whenever it reaches this level some people talk about new high . But according to me it is time to book profit and wait for reversal .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
High Since Change	6218

Technical updates on Nifty

Nifty is facing resistance around 6150 . As long as it is below this level further rally cannot be expected . There are possibilities of Nifty falling to 5950 . Lets see .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
Low Since Change	6124

Nifty approaching resistance

Nifty daily chart

 

Nifty is approaching resistance around 6140 . Traders should start taking partial profit .

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
Low Since Change	6124

Change in Medium term trend

Nifty medium term trend

Trend	Up
Initiation Date	09-10-13
Initiated at	6007
Low Since Change	6033

Breakout !!

Nifty

Nifty has breached trend line resistance . Expected targets are 6100-6150-6200 .