If you see on monthly, nifty has managed to stay above the clound way back from 2006. Except for a brief period in 2006, Chikou, a lagging indicator has stayed above or close to the price. Hindsight provides lot of information.. but for now looks to be in strong hands.. continue to look for a weak close on monthly for bearish outlook
A close above 9080 on monthly will move the price to next level. A dip back to 9080, if held on monthly then can we expect the price to move to the centre line??
price is retracing.. will be interesting to see what it does here