Nifty India - bearish outlook
The price is in Weekly/Daily ascending channel (green). Now, forming a falling wedge (bullish signal).
The Fib C is at 61.8%, where price made bearish engulfing pattern to head south.
D1 target is in line with 0% of AB swing and ascending price channel (8271), on break of this next target is D2 at 8040. However, I am expecting price to come at 8271 and then go north following the ascending channel (atleast retest 9120).
Any break in channel would lead to re-analysis.
The Fib C is at 61.8%, where price made bearish engulfing pattern to head south.
D1 target is in line with 0% of AB swing and ascending price channel (8271), on break of this next target is D2 at 8040. However, I am expecting price to come at 8271 and then go north following the ascending channel (atleast retest 9120).
Any break in channel would lead to re-analysis.
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