Inflation was high. Nifty is trying to give a breakout upside, but faces resistance at the trendline. Decisive breakout above the trendline will take Nifty to the target of 5400 in coming days. But breakout below the supprt trendline may take Nifty again to 4950 levels. Upside is likely possible. In the weekly chart also Nifty is facing resistance at the same levels.
Tuesday, May 20, 2008
==>> Nifty tgt 5400.
Inflation was high. Nifty is trying to give a breakout upside, but faces resistance at the trendline. Decisive breakout above the trendline will take Nifty to the target of 5400 in coming days. But breakout below the supprt trendline may take Nifty again to 4950 levels. Upside is likely possible. In the weekly chart also Nifty is facing resistance at the same levels.
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