NIFTY50 Update (1W TF) - 26th Feb, 2024
- The Price Action structure still looks intact for a further upmove
- There will be a slight retracement to take support before the upmove
- The lower trendline will act as a major support in case of a correction
#nifty50 #indices
- The Price Action structure still looks intact for a further upmove
- There will be a slight retracement to take support before the upmove
- The lower trendline will act as a major support in case of a correction
#nifty50 #indices
Comment:
NIFTY50 Update - 13th March, 2024
- Just 2 weeks since the last update to this chart and the Nifty50 has fallen and broken the 22,100 mark today
- Major sell off in Midcap (3.5%) and Smallcap stocks (4.5%)
As mentioned earlier:
✓ The next Support is between 21900-21850
✓ Large cap stocks are to be kept in focus
✓ Always keep your Risk Managment in Play
✓ Capital Preservation is Key !!
~ TradeRyte
- Just 2 weeks since the last update to this chart and the Nifty50 has fallen and broken the 22,100 mark today
- Major sell off in Midcap (3.5%) and Smallcap stocks (4.5%)
As mentioned earlier:
✓ The next Support is between 21900-21850
✓ Large cap stocks are to be kept in focus
✓ Always keep your Risk Managment in Play
✓ Capital Preservation is Key !!
~ TradeRyte
- High Volatility with no clear reversal signs
- Breaking down of the trendline will lead to a further down move
- Next Support between 21800-21750
- Another sell off in Small & Mid caps
No jumping into reversals until the market settles and shows a clear sign of a reversal
Sector Based:
✓ As mentioned Auto Sector is still holding on
✓ Focus on IT Sector as well
✓ Large cap stocks are to be tracked
Always keep your Risk Managment in Play.
Capital Preservation is Key !!
~ TradeRyte