Technical view by Nooresh

Nifty – Trendline and gap support at 5450-5520



A post after a long time as had been busy with some family functions :)


Looks like Nifty should find support around 5520-5450. The last attempt towards 5800-5850 failed to make new highs gives a signal for more sideways period to come.


This is the 4th attempt at the trendline and a dip below it can be possibly be a trap. The medium term trend remains with a re-test of breakout.


The medium trend long bias will come under review below 5350-5400. Midcaps have been performing better indicating good strength.





Article by Nooresh Merani

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{ 1 comment… add one }
  • Deepak November 19, 2012, 11:01

    Congrats for your wedding !!! Have a great time .. Cheers !!!


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