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ssikander08

Fall of the risen. Nifty at the verge of strong downfall.

Short
Nifty 50 Index (NSE:NIFTY)  
ssikander08 Updated   
NSE:NIFTY   Nifty 50 Index
Trend Analysis Technical Indicators nifty50
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trendanalysis indicator nifty50
Well Nifty has approached a monthly trend-line resistance. Maybe it will consolidate here for sometimes and then it will start tumbling down. There has been a negative divergence too on daily as well as monthly chart for 3 consecutive peaks respectively. so just observe yourselves and take your trades very cautiously on long side as volume is also declining.
Comment:
we can even see the dark cloud cover forming today near the last peak.
Comment:
It may respect the current red trendline and take support there tomorrow. But if it breaks then 11,070 level can be the target after the retest.
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