NIFTY SPOT AGAIN CLOSED BELOW TREND LINE LEVEL AT 5397: NIFTY DOING TIME PASS
The NSE Nifty spot closed at 5387 down by 0.50% on the weekend. Volume was normal, movement was fair, indicators were showing positive. In spite of that nifty spot closed below trendline level i.e. 5397 again. This seems, nifty spot is doing just time pass. Before few days, nifty crossed major trend line resistance with normal volume. It indicated about new uptrend. But now nifty is below that level, this is not the downtrend. So, medium term traders should beware from the uncertain volatility and they are recommended to be stay away for some time to save margins.
Happy Trading !!
Megha Investments & Research Team
