Technical Analysis and Research
Nifty- EOD Chart(20-06-2011):-
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1- started on 03/11/2009 from 4538
2- Nifty got support on it 6 times in last 18 months
3- Rising Trend Line broken down
Conclusions
Rising Trend Line broken down forcefully and Nifty plunged 141 points in 10 minutes. All trends were already down,Nifty was sustaining below 200 Day EMA for the last 34 sessions and 18 months uptrend terminated after rising trend line breaking down.
Break down was by force on 20-06-2011 and only last technical formality of 3 days sustaining below is left. As breaking down force was strong therefore expected that Nifty will sustain below rising trend line in the coming 3 sessions.