NIFTY 50 – IS UPTREND STILL INTACT ?

Dear All,

Last 4 sessions was really interesting so many things came up. Awaited budget, Sell off in US, Which leads to more fall in equity across the globe.

But the important question is whether uptrend is still intact?

Lets see the Chart !

Nifty 50 Daily Chart

But good news for Bulls are that uptrend is still intact which is clearly visible on charts. Price is making HH and HL and price perfectly took support at fib 78.6 % retracement and at lower trend line of the channel.

Now till the time 10280 – 10000 level is intact trend will remain up..

The resistance levels are 10600-10750-10900.

Cheers

Sid

 

 

Disclaimer

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