NEW YEAR! NEW DIRECTION coming up..?
As we can see NIFTY has finally taken support at lower trendline and also broke out of a upper trendline indicating further upmove but this up coming week could be very deciding as this week could potentially define direction for coming weeks as if NIFTY closes above the trendline this week then we can see a further continuation in uptrend else if fails to sustain and closes below the trendline making a wick at higher levels on weekly time frame then we may see a new trend which is downtrend in coming days so plan your trades accordingly.
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