NIFTY Weekly Chart Technical Analysis:
Nifty has been interestingly volatile in the past few weeks.
As visible on the chart, there is a resistance line of a decreasing triangle that Nifty is unable to break since the past 3 weeks. This resistance line began in Nov 2010 and Nifty is unable to break the same as of yet.
Think of a long position this week only if Nifty comfortably goes and closes above 5945. In fact, there is a chance it might fall back to 5550 - 5600 levels. Be alert, it's not a bull run yet.
NIFTY Weekly Chart Technical Analysis
