NIFTY 50 in DOWNTREND
On the weekly chart, Nifty-50 has breached the 20 EMA level (24540) and is heading towards the 50 EMA levels, indicating the continuation of the bearish trend.
If the 23888 levels are broken in the weekly closing we can confirm the weakness in the market.
The next important support level is the 23382 level (50 EMA).
Overall NIFTY 50 data shows that Advances – 16; Declines – 33 and Unchanged – 1.
The overall trend remains bearish.
If the 23888 levels are broken in the weekly closing we can confirm the weakness in the market.
The next important support level is the 23382 level (50 EMA).
Overall NIFTY 50 data shows that Advances – 16; Declines – 33 and Unchanged – 1.
The overall trend remains bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.