- NIFTY TECHNICAL ANALYSIS FOR LAST WEEK
1) NIFTY HAS MADE A REVERSAL FROM CHANNEL BOTTOM. MACD HAS NOT GIVEN A BUY YET.
2) AS YOU CAN SEE THE LAST TWO TIMES WHEN NIFTY CAME CLOSE TO THE CHANNEL BOTTOM IT COMBINED WITH MACD CROSSOVER TO GIVE A GOOD REVERSAL
3) I AM EXPECTING IT TO HAPPEN AGAIN. BUT HAS RESISTANCE AROUND 5080.
4) IT MAY GO DOWN A BIT FROM CURRENT LEVELS.
5) BUT THE CORRECTION FROM HERE MAY NOT BE TOO LARGE AND AN UP MOVE FOLLOWED BY THE BREAKING OF 5080 WILL TAKE NIFTY TO NEW HIGH'S
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