Wednesday, May 29, 2013



Nifty will show the direction tomorrow. Can this short term uptrend can be sustained for longer to see new highs? Nifty broke down the trend line last week. Nifty also trying to retest the trend line these two days in this week. RSI shows negative divergence. Having expiry this week expecting more volatility in Nifty.6140 being resistance in daily pivots and 6167 being the resistance after the Weekly pivots and also the trend line resistance(shown in Blue channel)  @6135 levels, Tomorrow is the time for Nifty to take the direction of its moment for next big move.

Below is weekly chart.

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