Nifty has sustained above the falling trend line for two days now, we are seeing sharp rise and sideways consolidations, such a price behavior is observed when we are in or about to begin persistent uptrend. Classical technical analysts would say that the correction has ended post trend line breakout, and I personally believe that it indeed has ended. now we should see rices rallying with intermediate resistances coming at 5380 (crucial), 5500 and 5535 (very crucial). Once through this band of 5460 - 5535 we have clear blue skies above, and hopefully we can soar even higher with our wings spread wide.
Dear Aniruddh !
ReplyDeleteWhats your opinion regarding the following change in your labels?
(i) a of x instead of X
(ii) b of X instead of II
(iii) X ,above TL
I would really appreciate if you can attach a link of your chart. Also new post is done on Nifty.
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