yogi_sharma_elliottician

Nifty50 Further correction or some recovery?

NSE:NIFTY   Nifty 50 Index
Nifty50 cracked from an important level yesterday, forming a bearish engulfing pattern on daily TF. Anyway, candlestick patterns can be misleading if it doesn't form on the right place. If nifty50 breaks current support at 12826 and sustains below it then 12740 and 12590 levels.

But if sustains above 12920 then 13030 and 13130 can be expected. Further ATH can be touched if holds above 13146.

Regards
Comment: The support line should be at 12826, I drew it around 12842 by mistake, sorry for the same.
Comment: CMP 12815, closing the trade downside, may recover unexpectedly.
Comment: AS suggested, it showed a good recovery, now holding above 12865 will push towards 12920 and other upside targets mentioned above

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