2. Nifty Monthly Trend Consolidating for last 22 months in the band of
10000 – 12000 levels
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3. Nifty Weekly Trend Breakout from the consolidation band of 11800 –
11150 with a multi week breakout.
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4. Nifty Daily Trend Breakout from the consolidation band of 11800 –
11150 with a multi day breakout
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13. Overall Outlook
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Strong Institutional buying
seen on last Friday post
corporate tax cut.
Short term & Intermediate
trend turns positive on last
Friday
What is bothering is current
swing low at 10678 holds a
unsecured low. And 10 Day
ATR at All time high
Both FIIs and DIIs figures
turned positive. Historically it
has odds of mean reversion
Failure to see follow thro and
price getting back below
10150 levels could negative
for the trend.
Price breaking Friday high
11405 has more odds of
continuation in a medium
term towards 11800 levels