As we can see NIFTY got strongly rejected exactly from our trendline resistance by trapping and creating a long wick above. This long wick not only shows the strength of rejection but also shows the effectiveness of trendline resistance. Hence as long as we are below the trendline and doesn't close above the trendline, every rise should be shorted. SO plan your trades accordingly and keep watching everyone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.