January 9, 2015

NIFTY weekly charts

We have a bullish candle but this does not mean anything much because (a) the previous fall did not get fully retraced and (b) current rally looks to be corrective in nature.

Nevertheless, the previous trend is up and so far it is not negated so we have no choice to be bullish on weekly charts with reversal level at 7950 spot.


No comments:

Post a Comment