nifty is in channel with downward movement indicating the profit taking at the highs and new fresh longs at the lows. Channeled move trend is a trade in a range that is the high of the channel as resistance and low of channel as support.
Comment:
nifty break the bottom of the channel. nearest support is 15696 is it needs to break the support then it must have a good pullback otherwise market has gone into the crash mode and we may even see the levels of 14550 with in few months.