After breaking out from the trend line of the drop from yesterday, NIFTY did a wild swing today (circled area), but managed to close comfortably. If 4362 is broken tomorrow, then we might see a rally lasting for a couple of days, which definitely have a potential to reach 4550. On the other hand, if NIFTY breaks down below, 4249, then the trend line breakout will be void…
Chances are in favor of a rally towards 4550 for the next couple of days. The midway resistances are at 4430 and 4480
