Nifty: Changing Gears...will it shift to lower red channel???

NSE:NIFTY   Nifty 50 Index

- Nifty trading in yellow channel from April 2021
- Since May 31, 2021, Nifty has been sideways (trading mostly in a 300 point range)
- the orange line has acted as a road block
- the lower side of the yellow channel has provided support on 4 occasions so far
- if Nifty comes to lower end now of the yellow channel, it could be it's 5th attempt and that may not be a good sign in the short term

Nifty likely to change gear and shift to red channel.

Important levels on the lower side 15780 / 15628 / 15450
Important levels on the upside 15960 / 16030

I would be writing another post on F&O Data analysis. Some interesting stats are coming up... So keep watching

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