February 11, 2017

NIFTY weekend review

Weekly charts
- trend is up
- small 'hanging man' formed this week
- expecting selling pressure at higher levels
- strong resistance around 9000


Daily charts
- trend is up on daily charts
- signs of increasing selling seen this week
- immediate support 8700


30 min charts
- good support has developed around 8700 F levels
- for option writing, trend still remains up.


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