We hope everyone had a profitable week. Here is our view on Nifty weekly chart. In last two weeks, Nifty re-tested the strong resistance levels but failed to close above it which indicates the another rejection. Additionally, Nifty has also formed pattern which also indicates the price reversal. Moreover, indicator is also showing negative divergence. Considering all these aspects, we feel that in coming weeks, we may see weakness and bearishness in Nifty .
Have a great weekend.
I shall not be getting into arguments about what is wrong and what's correct. But I just want to highlight that in Trading business, there isn't any CORRECT or WRONG strategies/formulas/decisions. I think, they are always GOOD or BAD. As long as your strategies and formulas are making profit for you, those are GOOD.
Thank you for the comment, I appreciate.
Have a fun weekend!!! Cheers!!!