As per chart Nifty has given Flag & pole and H&S breakdown on daily charts.RSI also depicting the same as it has shown in Feb-march 2020. Cautious road ahead, if history were to repeat itself. If the tgts of Flag & pole breakdown is the size of pole, then Pole size (11700-7500)=4200 pts down from brkdown level 11200 comes to (11200-4200)=7000 approx levels. DMI- is up & ADX started moving up. Seems bears again in control of the momentum. Weekly charts of Nifty giving breakdown signals. Only ADX on weekly is missing which i think will matchup in coming weeks. Views expressed are only for academic purpose, not for trading.
I agree. Market is about to have a major fall. Federal Reserve is the key fundamental to look for. Check out my recently posted idea. I have given a long term view regarding the current levels.
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As I’m a Maheshwari ... thought of connecting with u