Last week nifty kept up the support found at the falling trend line.As far as the trend line holds there is chance of market being positive for coming weeks.Whereas close below the trend line will bring panic in the market.A cross and close above 2860-80 will take to 2980-3020 levels and above that 3140-3150.
We also noticed that the weekly RSI has already turned down from the trend line indicating weakness and projecting the downtrend.The coming week will provide us the result about which side the market is going to move.
Crucial support is 2634-2650,if closed below this levels more panic!
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