Nifty weekly trend : Down
Nifty daily trend : Down
Price raised for the last two weeks with strength and hit the weekly resistance zone of 5913-6095. The raising of the price is so steep.It may not sustain higher level. As, the price hit the resistance zone, we expect the price to fall.
Learning:
The up trend of trading time frame will end at higher time frame resistance zone and down trend of trading time frame will end at higher time frame support zone.
Eg: you can see from the above chart that, daily up trend ended at weekly time frame resistance zone.
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