Hey guys, after half of a decade before climbing to this level from 2020, NIFTY has showed some signs of falling from the high it was peeking in the past months. We see a parallel channel breaking at the point of market with market testing the channel back along with bearish signals on 1hr time frame and other companies falling price indicates that market had been overbought too much and it has to correct before going up again. https://www.tradingview.com/x/nkXcX7n6/
Targets we are getting are near 20,000 and 18000. People might find it impossible but it's not, cause if u use fibonacci retracement you will get these levels along with in the years 2015 and 2016 almost 25% fall has been seen an in the years 2011 and 2012 almost 30% fall can be seen and its obvious to all of us that the market are a little too high which can help us cling to the point that NIFTY can experience a bear market.
With this, signing off for today 🙏
https://www.tradingview.com/x/Q0vWtYBq/
Targets we are getting are near 20,000 and 18000. People might find it impossible but it's not, cause if u use fibonacci retracement you will get these levels along with in the years 2015 and 2016 almost 25% fall has been seen an in the years 2011 and 2012 almost 30% fall can be seen and its obvious to all of us that the market are a little too high which can help us cling to the point that NIFTY can experience a bear market.
With this, signing off for today 🙏
https://www.tradingview.com/x/Q0vWtYBq/
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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.