Nifty 500 IndexShort
#CNX500 Testing Key Support Levels!
📉 Market Update: #CNX500 Testing Key Support Levels! 📉
The #CNX500 index has recently touched its support line once again. When stocks or indices frequently test support, it typically weakens that level, increasing the likelihood of a further breakdown. In recent sessions, the index has also shown a breakdown candle below this support level, signaling potential for further downside. 🔻
With the broader Indian market in a bearish phase, it’s advisable to stay cautious when initiating new trades until we see a clear trend reversal. If the current support breaks, the index may find its next support near the 200-day moving average, around the 21,900-22,000 range. 📉
📢 Disclaimer: This analysis is for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions. 💼
#StockMarket #CNX500 #TechnicalAnalysis #SupportLevel #BearishMarket #InvestSmart
The #CNX500 index has recently touched its support line once again. When stocks or indices frequently test support, it typically weakens that level, increasing the likelihood of a further breakdown. In recent sessions, the index has also shown a breakdown candle below this support level, signaling potential for further downside. 🔻
With the broader Indian market in a bearish phase, it’s advisable to stay cautious when initiating new trades until we see a clear trend reversal. If the current support breaks, the index may find its next support near the 200-day moving average, around the 21,900-22,000 range. 📉
📢 Disclaimer: This analysis is for educational purposes only. Always conduct your own research and consult with a financial advisor before making investment decisions. 💼
#StockMarket #CNX500 #TechnicalAnalysis #SupportLevel #BearishMarket #InvestSmart
Disclaimer
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