- Nifty is trading in a channel and is heading for Double top marked by bLue line, a resistance formed earlier.
- Also note how each trendline forms a resistance and how particular day rise ended at those lines.
- A advance signal will be generated by MACD or RSI , they will break the trend lines drawn earlier than price.
- Also MACD is below its signal line, which means its has to be watched in coming week.
- At 5401 lies the Fibonacci's target of 50%., So 5400 would be very tough level in coming days.