Sideways September?

Sep 7

As marked on the Monthly time frame of Nifty

- During an upmove in the market when such hanging man pattern is formed,

- The following month has shown Bearish/Sideways movement in the market
- Similar "Hanging man" candle can be observed for the month of August

As of now since the commencement of September trading month we have seen a fall of 481 points / 1.9% from the ATH from 25333.65 to 24852.15


Bringing Nifty to its crucial level that acted as resistance for the month of August

- There's a possibility this level can turn into CIP and act as a support
- If this level breaks, next support can be seen at the levels of 24150 / Approximately 4.5% from ATH giving good buying opportunities in Equity as well