November 26, 2016

NIFTY weekly charts

- trend is down on weekly charts
- this week, NF broke support at 8000 but closed above it
- close this week was near week's high
- pattern formed resembles a hammer

3 comments:

  1. Appears markets will be range bound between, 8100-8300 for this month.
    Tarundeep

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    Replies
    1. 8367 is the 38.2% fib retracement from where the downtrend might start again.

      Delete
  2. nifty being in down trend,&seeing the strenth of the mkt,this is just a dead cat bounce.Today it is not srong enough to close above wkly high 8122..Undercurrent is bewarish

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