Nifty 50 IndexShort
Nifty Trend Bearish - Target 14500
On 30 minutes Candle chart nifty is on the verge of creating Head & Shoulder pattern.
On 1st April 2021 nifty created left shoulder then on 8th April 2021 Nifty created Head and then it started it's downtrend journey.
For completion of Head & Shoulder pattern nifty needs to touch 14500 and then it will start it's uptrend journey as 14890-14900 is acting as resistance and already multiple tops are created at this level in month of march.
While technical indicator's like RSI, MACD and Stochastics giving bearish trend. Also, rising corona cases and lockdown is giving negative sentiments.
Earning season is starting this week and any negative sentiment will support the downtrend.
On 1st April 2021 nifty created left shoulder then on 8th April 2021 Nifty created Head and then it started it's downtrend journey.
For completion of Head & Shoulder pattern nifty needs to touch 14500 and then it will start it's uptrend journey as 14890-14900 is acting as resistance and already multiple tops are created at this level in month of march.
While technical indicator's like RSI, MACD and Stochastics giving bearish trend. Also, rising corona cases and lockdown is giving negative sentiments.
Earning season is starting this week and any negative sentiment will support the downtrend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.