Tejussharma

Nifty Bearish Signals

Short
NSE:NIFTY   Nifty 50 Index
This Study based on Fibonacci series
1. Nifty Hit 200 Ma and reversing from the Top.
2. If we Closely observe Nifty PE ratio at 27.85
In March 2020 at 17.15 and in Jan 2020 at 28.67 now in July at 27.85, Is this a sign of bearish mood?
3. Trend Line Breakout and taking support at Fibo level 0.786 - 10599 is a crucial Support if breaks more fall ahead.
4. I we observe Option Chain 'Call Writer' are more and Put Unwinding started at the level of 10600.

So Nifty Completely In Bearish Mood

Comment: Tested 10600 today again