nirav5

Nifty heading south

Short
NSE:NIFTY   Nifty 50 Index
I will try to explain my view which I have drawn on chart.
Nifty made a low near 10276 and bounced from channel support and went up till around 10600.
However so far it's looking like a temporary bounce as Nifty is not able to sustain at heights.
This time if Nifty will go down from current levels it will breach 10276 level and can land between 10000 to 10100 levels.
This view can negate if market gives close above 10650 - 10700 levels.

Assumptions :-
From 10000 to 10100 levels it can bounce for around 300 points where current support level is placed.
I will come back once market shows the further path.


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