NIFTY is rolling over to downside
The Nifty is losing upside momentum. Resistance has proven strong. I thought maybe the ascending triangle could be completed, but it appears to be failing. Whether we have one more leg up or not, one thing I know for sure. Indian investors who think some insurance company will keep the market from going down will be sadly disappointed. Insurance against declines has been tried and proven a failure before. It will fail in India -- if now, at some point.
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