Nifty breakout below the short term support trendline

Dec 16, 2016

Today nifty broke the short term support trendline and closed below that. During the intraday there was a recovery but it retraced from the same trendline which was previously acting as a support. Now, it will act as a resistance. 8061 should act as a support. If it breaks then T2 will act as a support. On the upside 8176 and T4 will act as a minor resistance.