Nifty 24590 15 min chart is showing dead cat bounce pattern. if resistance 24636 is sustained then could move down 200 points..
Note
How to Spot a Dead Cat Bounce?
A dead cat bounce can be identified by a sharp decline followed by a brief recovery that regains less than 50% of the initial drop. Low trading volume during the rebound, failure to break significant resistance levels, and weak momentum indicators are key signals.
Sharp Decline , Brief recovery and low volume trade all can be noticed in the chart. If anyone need help on this pattern refer to tradingview.com/chart/NFLX/30xWY92L-What-Is-a-Dead-Cat-Bounce-Pattern-and-How-Can-One-Trade-It/
Note
Nifty 24750 @129 at 10:01 at 24727Note
Nifty 24750 @150 at 11:00 at 24684Note
Nifty 24700 @110 at 11:44 at 24695Note
Nifty 24700 @219 at 12:57 at 24566
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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.