Monday, May 27, 2013

Nifty - Technical Update

  1. Prices broke down from the lower channel line of a broadening triangle.
  2. Now pulling back, the interesting thing to watch is whether prices find resistance at the lower channel boundary.
  3. A nice reward to risk short trade can be taken here, with SL above the lower channel boundary.
  4. If prices find resistance then we are in for even lower prices.

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