Monday 18 December 2017



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The last time when the Supertrend indicator gave a buy signal, the index rose to its lifetime high of 10,490 on November 6th, but soon the strength started fading and it gave a sell signal on 13 November.The Nifty50 which slipped towards its crucial support level of 100-days moving average, bounced back to reclaim its crucial resistance level of 10,400 in afternoon trade on Monday.

Indian market which witnessed a breakdown on charts in morning trade bounced back after recent trends started favoring the ruling party BJP.



The latest trends showed the BJP leading in 101 seats and the Congress ahead in 79 in the state of Gujarat. The party fell short of its 2012 tally of 115 seats, but that was something which market had factored in.

The Nifty index rose to an intraday high of 10,443 which is just 47 points short of its lifetimes high of 10,490. The index broke above its crucial supply trend line placed near 10,333 which gave a buy call on the Supertrend indicator.

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