Nifty Weekly Technical For Week 23 May

Nifty Hourly Chart Nifty Hourly chart on Friday was a classical example of Support becoming Resistance in a downtrend. As seen from the above Hourly charts we can observe that 5510-5515 was a support for Nifty during the fall where Nifty consolidated before the fall and now the same support has become resistance during the rise which came in on Friday.   Nifty Daily Chart Nifty daily chart if we see the Trend line Breakout happened and Nifty is again unable to close above the trendline making it clear that selling pressure which is ...