Here is a self explanatory NIFTY weekly chart. The pink trend line that started in October 2009 acted as Support/Resistance line several times and broke 3 times and each time when it broke NIFTY moved significantly in that direction.
Now again, the price is very close to (just under) the trend line. So watch closely for the nifty move in the coming week(s) for confirmation of cross/reversal! A confirmation here may provide trading opportunity for 200-500 points on either side...let us wait and watch!
Now again, the price is very close to (just under) the trend line. So watch closely for the nifty move in the coming week(s) for confirmation of cross/reversal! A confirmation here may provide trading opportunity for 200-500 points on either side...let us wait and watch!
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