Nifty Outlook over different timeframes

NSE:NIFTY   Nifty 50 Index
On Monthly chart, as of now, Bearish Engulfing pattern can be seen, however the same will be confirmed at month end , if it see a close below 10404. ( Wait for it ).

On Weekly Chart: There is a Bearish Enfulfing Pattern, followed by a gap down , the gap has not filled yet. The Same Gap may serve as Possible resistance - 10702-10736 . Since then weekly closing is in red. As long as this gap is intact, index might see some more correction.

On Daily chart: There is a sharp decline, followed by some consolidation in the range of 10620- 10384. Now the breakout of this range will decide the further direction in the index.


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