Nifty has touched the dynamic resistance (DR) level and started declining. At present, RSI is under 50 level. It's a sign of a downtrend.
Moreover, according to Elliott Wave theory, Nifty will stop climbing soon. And ABC correction will initiate from here.
Targets: 12460 - 12000 and below
Note: Selling pressure will come after a breakout of the support trendline. Don't sell above DR.
Moreover, according to Elliott Wave theory, Nifty will stop climbing soon. And ABC correction will initiate from here.
Targets: 12460 - 12000 and below
Note: Selling pressure will come after a breakout of the support trendline. Don't sell above DR.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.