Nifty 50 IndexShort
Nifty : Resuming Downtrend (Very Likely)
Updated
After a pullback from 23300 to 24780.
I think Nifty is resuming previous downtrend
If Nifty Breaks Shoulder level 23900 of Inverse Head n Shoulder pattern then a very strong downtrend will resume.
Failure of Head n Shoulder pattern is very decisive n result is very big in either ways.
If Nifty goes above 24700 (very unlikely) then 25403, 26586 stoploss 24150
If nifty goes below 23900 then 22643, 21524 stoploss 24785
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI registered advisor in capital market.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thank you.
I think Nifty is resuming previous downtrend
If Nifty Breaks Shoulder level 23900 of Inverse Head n Shoulder pattern then a very strong downtrend will resume.
Failure of Head n Shoulder pattern is very decisive n result is very big in either ways.
If Nifty goes above 24700 (very unlikely) then 25403, 26586 stoploss 24150
If nifty goes below 23900 then 22643, 21524 stoploss 24785
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI registered advisor in capital market.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thank you.
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meltdown started
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