Niftyshort
Nifty expected to sinkAs the NIFTY has made a Bearish Engulfing pattern chances are bright that NIFTY may crack it to 200 points on the lower side Which may happen in near future.
Caution: The above are our personal view. Neither a recommendation nor a tip nor an advice for any trade. Please consult your personal financial adviser before investing.
Nifty expected to sinkNifty is expected to sink approximately - 200 points. Main reason being bearish engulfing formed in weekly chart. On End of day basis it may look a bit bullish as far as technical levels are concerned. but weekly chart pattern confirming the other way around. It is usualy seen that the next candle of Bearish engulfing usualy opens with a gap down. What is to be seen now is how low it can go.
Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Nifty 50 Bearish (Short Term), continues downtrend moveNSE_EOD: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 NSE_EOD: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.
