- 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 - 29th Feb, 2024
- 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
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 !!