As explained in my weekly report, NIFTY is moving up towards 5410-26 region (Or close to that)
From the chart, it is close to the top trend line. We are likely to face a very tough resistance in the region. A breakout from this region can take NIFTY to new all time highs (There is no harm in dreaming like that) . A breakdown below the point “BT”, can start a new correction sequence.
Apart from the theoretical resistance levels, 5394 has an additional importance. It was the confirmation point of the 2008 breakdown. That is the closest valley occurred on Mid-November 2007.
Look at spreadsheet what a gain www.ftalarms.com is giving to the subscribers.
