April 11, 2014

Weekend update

On daily charts, the trend is up with support at 6640. Note that despite a gap down opening, the low made in first 5 minutes never broke during the day. Advance decline was positive.




On weekly charts, trend is up with support at 6400. There is no indication of any trend reversal. Earliest indication will come if nifty closes below 6640 next week.


On monthly charts, trend is up with support at 5930. NIFTY has also achieved a breakout on monthly charts.





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