Nifty- 17k broken, 15772 a possibility?
Nifty erased gains of almost 2 weeks in the current week --a bid bearishh red candle -closed the week breaching the 17k level. This opens possibilities of 16700, 16200 and eventually 15700 levels. The 15772 is a significant consolidation zone -so this could be the definite turnaround level--unless Nifty turns around at the prev levels.
The downward channel as marked in the charts has developed and it looks like we could see at least another week of red candle before a pullback. What do you think?
The downward channel as marked in the charts has developed and it looks like we could see at least another week of red candle before a pullback. What do you think?
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