Nifty on Falcon Scalp | Showing trend downwards 16800 soon?

NSE:NIFTY   Nifty 50 Index
Falcon Wave count shown earlier gave 5 waves on weekly count green, this was a big drag and surprise. What saved us was Heikinashi Candle trading which I have mentioned in last posts as well. Never trade against trend, never trade against Heikinashi Candle system.

Looks like we are moving downwards, there is some support around 17200, but with US markets bleeding, it looks like we can go down towards 16800.

This will give good liquidity for resuming upmove.

Monthly chart shows strong candle, and therefore 16800-17000 is still a strong support zone.

What next? We go with the trend, and short this beast till it bleeds. And this time we have to catch up move too which we missed, and were finding top. So we will use Falcon Waves, Falcon Scalp, And also Heinkashi Candle to trade this.

More on this soon..

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