NIFTY is complete downtrend till 3rd Mar, 2020. By First week of Mar 2020, NIFTY expected to touch 11200 level, which is 780 points down current level.
Intermediately, NIFTY will fall and touch 11550 or 11400 by 20th Feb, 2020. Thenafter it move retrace little up then move further downward to 11200 level.
I put the target 1 and 2 date in chart.
Target 1: 11550
Target 2 : 11400
Target date : 20th Feb, 2020
Intermediately, NIFTY will fall and touch 11550 or 11400 by 20th Feb, 2020. Thenafter it move retrace little up then move further downward to 11200 level.
I put the target 1 and 2 date in chart.
Target 1: 11550
Target 2 : 11400
Target date : 20th Feb, 2020
Trade closed: stop reached:
Sorry, I missed to update the stop loss level in this chart, which i updated in my previous chart. NIFTY stop loss level for short is 11980. NIFTY has support zone at 11980, which was showing resistance, so concluded NIFTY will move downward, but NIFTY broken the critical resistance 11980 level today, so this will act as support now. This analysis is void, since it hit stop loss level.