Nifty - Bearish Trend
1.As per the trend line we see a rejection at 17200.
2.The last two times at the top of the trend line we saw a fake breakout and the prices came within the trend line and markets turned bearish . This time it has reached the top of the trend line and has got a major rejection. Expecting further down move from here.
3.Supports are at 17020:16960;16930;16840.
4.Resistance are at 17120;17160;17200
5.Conclusion - Trend seems to have turned bearish and more likely a sell on rise markets.
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 me and is solely for the purpose of knowledge.
2.The last two times at the top of the trend line we saw a fake breakout and the prices came within the trend line and markets turned bearish . This time it has reached the top of the trend line and has got a major rejection. Expecting further down move from here.
3.Supports are at 17020:16960;16930;16840.
4.Resistance are at 17120;17160;17200
5.Conclusion - Trend seems to have turned bearish and more likely a sell on rise markets.
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 me and is solely for the purpose of knowledge.
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.