Nifty: Price Hits Medianline

NSE:NIFTY   Nifty 50 Index
Price has hit the medianline and #Andrews101 states that price could turnaround or congest or breakthough that medianline and progress higher. Of the three options, the third one seems unlikely given the fall on Friday.

The other two options - Congestion or turnaround (trend-reversal) are the two potions we are left with. We just have to wait for a few weeks to conclude if a significant HIGH is in place for the Nifty -0.96% .

For me, the low at 8,540-ish is the crucial reference point. Until that low is breached, there is nothing to worry from a long term perspective.


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