is nifty out of the woods

Nov 22, 2024

Nifty has shown a meaningful correction from the top, with todays big candle, the question is ,whether nifty has reversed?. In short till nifty is below 24600, we cant assume a reversal. As per chart nifty took trendline support of 23265 and reversed to 23930. Now, it can go upto 24026. If that is not sustained again short trend will built. Below 23200, 2200 will follow then, as nifty will try to take support on monthly trendline. These are hypothesis, some events can also change the trend, like regional election , war etc. Consider loading quality stocks on the dip