Attached herewith, the weekly chart of NIFTY for your reference. This time, I have given a trend line analysis. Look at the laser precision of the slanting trend lines, where it has taken support / resistance. Even the recent top of 6338 too and the next pull back level of 6181 was precisely on that5 trend line.
The Support / resistance is marked with coloured dots.
The next potential point is shown with the red arrows. This is the meeting point of the slanting and horizontal trend lines. Is NIFTY heading towards it? At present it looks so, unless market reverses abruptly. If all these lines can match, why not the 5448 level the next trend line points to? This is a calculated guess and we need to watch the action here onwards to see, if it adheres to this trend line. Note that this analysis is only for education purpose and you may read the disclaimer.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
