September 29, 2018

NIFTY weekly technicals with 3 charts

- trend is up
- but markets closed in the red for 4 consecutive weeks
- swing low is at 10000
- this level is too far for SL
- we can consider 10850 as SL

- note that in past 2 years, weekly corrections have lasted for 8-10 weeks and more but have never resulted in a trend reversal

Alternatively one can use kplswing with N=5 as SL

Or N=10

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