Hello.
This 30 minutes chart of Nifty shows that Nifty has broken out of the trading range of 6110-6160 today and closed just above the trading range. The black trendline suggests that the uptrend has been broken. But a break of the trendline does not necessarily mean a change of trend. It can mean either a change of trend or a slowing down of trend. In this case, it has meant a slowing down of trend because the red trendline is still intact. While the target for Nifty remains 6500, yet, minor corrections are expected along the way. Support now is at 6080 and below that at 6020. Expect some minor support around 6160 too.
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More tomorrow. Happy investing. Do click on comments and add whether this format of the newsletter is acceptable or we go back to the earlier format. Your comments are valuable.
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