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NIFTY WEEKLY ANALYSIS-APPROACHING VERY IMPORTANT RESISTANCE ZONE

Long
NSE:NIFTY   Nifty 50 Index
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.

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