Thursday, 18 February 2016

Nifty rallies from trend channel support up through initial trend line resistance

Daily chart shows that the Nifty has rallied from major trend channel support, up through the lower line of the shorter term blue trend channel. Other nearby trend line resistances remain, but they should be quickly beaten if (as I think) the Nifty's correction from the 2015 has bottomed. Let's see.

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