Nifty is currently in up trend and this is correction stage.
Nifty is in small consolidation stage now as marked in the box.
Friday was completely range bound after a bearish Thursday.
I have marked the support levels on the chart from where Nifty is expected to bounce back and try to cross 12000.
If Nifty fails to bounce back then it will try to take support mostly at the major support line and pullback.
If Nifty fails then it will enter the major support area and it will have to breach it to further fall down.
Short term I am bearish and target is Nifty the reaching major support line and taking support.
Long term I feel Nifty crossing 12000 if it successfully takes support on any of the support lines.
Plays Safe & Trade safe.
Note: Views are only for educational purpose. Consult your financial advisor before any decisions.
Nifty is in small consolidation stage now as marked in the box.
Friday was completely range bound after a bearish Thursday.
I have marked the support levels on the chart from where Nifty is expected to bounce back and try to cross 12000.
If Nifty fails to bounce back then it will try to take support mostly at the major support line and pullback.
If Nifty fails then it will enter the major support area and it will have to breach it to further fall down.
Short term I am bearish and target is Nifty the reaching major support line and taking support.
Long term I feel Nifty crossing 12000 if it successfully takes support on any of the support lines.
Plays Safe & Trade safe.
Note: Views are only for educational purpose. Consult your financial advisor before any decisions.
Comment:
I am still bearish on Nifty.
Comment:
My bearish side will end if Nifty crosses 12050 till then my view is bearish.
