Nifty Approaching the Weekly Trendline
Updated
The Nifty 50 is currently approaching the Weekly Trend line. I suggest we should wait for a break or bounce of the trend line for further confirmation of the trend. If the trend line breaks, the nearest support will be the 10,000 psychological mark. And if we get a bounce it will test the nearest resistance of the 11,000 and probably will test the previous high of 11,800 made in August. The RSI & the Stochastic also indicates area of Oversold prices.
Note
Nifty Bounced Back Sharply from it's Crucial Support Level of 10,000.
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