On a weekly chart, for context, you will see how much Nifty
has risen since 2018. Here with changing interest rate and economic recovery conditions around the globe, Nifty
wants to cool off. Nifty
just broke support trend (white line), and I have marked three lower support levels (dashed lines).
is below 50 again. If it gets below 33.33 that is a strong bearish
I recently included Nifty
in a comparison of market performance, and Nifty
was highest, while only China had turned lower. China might be leading here, which means India and US markets should be going lower (see linked chart).