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Nifty 50 Index
Short
Updated

Nifty 50 Bearish (Short Term), continues downtrend move

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NIFTY which is traded in NSE,Mumbai & scrip name as Nifty Futures January is likely to continue its downward move and possibly reach around 7250's.

We know that Gaps act as Resistance/Support and check your trade plans to place stops around that region NIFTY from 7650's to 7750's.

Possible Targets around 7200's to 7250's and its more likely to move there if Bearish Trend Continues.If that suits your risk profile and plan take Nifty 50 [Nifty Futures} short positions to ride the downtrend.

Reasons : We are below our Support turned Resistance, perfect Doji formed and the next candle close is also below our marked resistance level,so potential downtrend move continues.
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Bearish PatternsdowntrendNIFTYnifty50niftyfuturesniftyindianiftyshortniftytrendnseindiariskrewardtrendcontinuation

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Bearish PatternsdowntrendNIFTYnifty50niftyfuturesniftyindianiftyshortniftytrendnseindiariskrewardtrendcontinuation
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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.