NIFTY began the week with what looked like a solid rise. Then came Thursday and Friday! NIFTY and the other markets fell in one massive hurry. Interestingly, NIFTY fell to the lower line of a long-running channel (brown). Price has bounced sharply off this line and may contintue rising. Up to a point. I suspect there could be lots more downside to come. So watch out for the red trendline providing potential resistance if and when NIFTY gets to that level.
Sunday, November 29, 2009
NIFTY Outlook week commencing 30 Nov 09
NIFTY began the week with what looked like a solid rise. Then came Thursday and Friday! NIFTY and the other markets fell in one massive hurry. Interestingly, NIFTY fell to the lower line of a long-running channel (brown). Price has bounced sharply off this line and may contintue rising. Up to a point. I suspect there could be lots more downside to come. So watch out for the red trendline providing potential resistance if and when NIFTY gets to that level.
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