NIFTY WEEKLY ANALYSIS -
NIFTY HAS BOUNCED FROM THE TREND LINE " Y ".
NIFTY ALSO FORMED " HAMMER " PREVIOUS WEEK.
1. TREND LINE "X" AND "Z" WILL ACT AS RESISTANCE.
2. NIFTY IS APPROACHING A STRONG RESISTANCE ZONE ( 11069.65 - 11181.45 )
NOTE 1: WHEN EVER NIFTY HAS CLOSED ABOVE THE ZONE (11181.45), IT HAS EASILY MOVED UP TILL 11341.70.
NOTE 2: WHEN EVER NIFTY HAS ENTERED THE ZONE AND CLOSED BELOW THE ZONE (11069.65). NIFTY HAS RETRACED MINIMUM UP TO 10925.60
THOSE WHO ARE LONG - BE TRAILING YOUR STOPS. AND WATCH OUT FOR THE ZONE.
***Check the next chart , Daily chart , for better idea.
NIFTY HAS BOUNCED FROM THE TREND LINE " Y ".
NIFTY ALSO FORMED " HAMMER " PREVIOUS WEEK.
1. TREND LINE "X" AND "Z" WILL ACT AS RESISTANCE.
2. NIFTY IS APPROACHING A STRONG RESISTANCE ZONE ( 11069.65 - 11181.45 )
NOTE 1: WHEN EVER NIFTY HAS CLOSED ABOVE THE ZONE (11181.45), IT HAS EASILY MOVED UP TILL 11341.70.
NOTE 2: WHEN EVER NIFTY HAS ENTERED THE ZONE AND CLOSED BELOW THE ZONE (11069.65). NIFTY HAS RETRACED MINIMUM UP TO 10925.60
THOSE WHO ARE LONG - BE TRAILING YOUR STOPS. AND WATCH OUT FOR THE ZONE.
***Check the next chart , Daily chart , for better idea.