NSE NIFTY Weekly charts suggest we are nearing long term trend line.
Can we break it this time decisively? Will depend heavily on the market reaction on results of TCS (will it lead to profit booking as every time?) and Reliance: results are due today.
Most of the stocks are having very negative charts, other than the IT counters.
Will be interesting to see for how long nifty will keep on testing higher levels with support from just one sector ie IT
Happy investing
Disclaimer: I don't have any open position in NIFTY Futures or Options
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