The December month and the 2013 year has officially ended (at least from a trading perspective) so let us see what the charts look like.
Monthly charts: attempting a breakout at 6300-6400 levels.... strong resistance here. Last 2-3 attempts have failed.
Deep support at 4500-5000 levels.
Quarterly charts: breakout from triangle (not perfect) will be bullish.
Quarterly line charts ... bigger view: nifty is still a buy ... first buy was around 1600 levels ... SL 4500
Of course... this view from academic perspective. Not easy to trade nifty like this.
Monthly charts: attempting a breakout at 6300-6400 levels.... strong resistance here. Last 2-3 attempts have failed.
Deep support at 4500-5000 levels.
Quarterly charts: breakout from triangle (not perfect) will be bullish.
Quarterly line charts ... bigger view: nifty is still a buy ... first buy was around 1600 levels ... SL 4500
Of course... this view from academic perspective. Not easy to trade nifty like this.
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