Hi Traders,
Daily Trend : UP
Weekly Trend : UP
After two hammer candle with volume. Last week price moved up with bottom tail with good amount of volume. Nifty has a resistance around the 5756-5716 range. As the resistance is on daily chart and looks strong.
Conclusion:
Don't take long position now. you may even think of short at 5756-5716 for very short term.
Daily Trend : UP
Weekly Trend : UP
After two hammer candle with volume. Last week price moved up with bottom tail with good amount of volume. Nifty has a resistance around the 5756-5716 range. As the resistance is on daily chart and looks strong.
Conclusion:
Don't take long position now. you may even think of short at 5756-5716 for very short term.
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