Nifty 50 – Rebounds from trend line, needs bullish follow throug
The rebound from the rising trend line seen today is encouraging but needs a bullish follow through tomorrow, in which case the index could test 8894 levels (100% Fib expansion) next week.
On the downside, only a daily close below the rising trend line would signal the trend has reversed. Note the MACD has already turned bearish.
On the downside, only a daily close below the rising trend line would signal the trend has reversed. Note the MACD has already turned bearish.
