DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.
NIFTY
Nifty as I said is bearish making a Lower top lower bottom Pattern.Any recoveries are meant to go short provided a topping pattern appears ( Don’t go short blindly at your fancy) Nifty closed below 5663 on a weekly basis reinforcing bearishness.
Weekly chart on the other hand is taking support at 50 week mav, which is equivalent to 250 dma. It is at 5629 ( see blue average in weekly chart).On a weekly chart a move below 5548 will give a first lower low and reinforce bearishness for coming weeks.
Use intra charts intensively to gauge market movement at this conjecture.
NIFTY DAILY
NIFTY Weekly
NEXT POST APRIL 2ND
NIFTY
Nifty as I said is bearish making a Lower top lower bottom Pattern.Any recoveries are meant to go short provided a topping pattern appears ( Don’t go short blindly at your fancy) Nifty closed below 5663 on a weekly basis reinforcing bearishness.
Weekly chart on the other hand is taking support at 50 week mav, which is equivalent to 250 dma. It is at 5629 ( see blue average in weekly chart).On a weekly chart a move below 5548 will give a first lower low and reinforce bearishness for coming weeks.
Use intra charts intensively to gauge market movement at this conjecture.
NIFTY DAILY
NIFTY Weekly
NEXT POST APRIL 2ND
Last edited: