Wealthcam

Fall started exact from the trendline!!

NSE:NIFTY   Nifty 50 Index
As we can see despite a strong recovery after a weak opening, NIFTY reached the trendline and started to get rejected exactly from our given levels and lines. This shows as long as NIFTY maintains itself below the given trendline it should be a sell on rise and hence looking at a bigger holistic view! we can see NIFTY getting weak dragging all midcaps along with it. Further this 200 point unidirectional fall could just be a starting for a bigger downfall filling all the gaps created till 18900-19000 levels which is also a psychological level

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.