January 21, 2017

NIFTY weekly charts

- this week nifty traded in a range within previous week's bar
- note that last week's bar gave a good breakout and close above 8300
- but this week there was no follow thru buying
- we  have strong resistance around 8500-8600 level
- next week, close below 8200 can mean trend reversal and retest of recent lows

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