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Mar 21, 2022 5:29 AM

Nifty Short

Nifty 50 IndexNSE

Description

#Reasons

1) Nifty trend still bearish as per dow theory.
2) Fibo magic no. 61.8% (17424.3) Facing strong resistance.
3) Facing Resistance trend line
4) RSI making lower high

#Disclaimer:- View shared is for educational purposes only. Conduct your due diligence before making any trading/investment decisions.

Comments
johntradingwick
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keshevdugar
The post does not seems to be logical as there are always 2 possibilities near a trendline....
sudheer6429
@keshevdugar0210 please post your review with justification of both sides how it is?
champtrade111
@sudheer6429, my view is nifty consolidation zone around 16800-17200 now that will decide either side trend .. breakdown bellow 16800 will assume bearish and trading above 17200 will be bullish .. 17000 is Support of the trend. !
champtrade111
@champtrade111, nifty bounce from exactly 17000 level 200 points up from then today ...
champtrade111
@sudheer6429, same case with RSI .. RSI can move upside from current level as per price action.
champtrade111
@champtrade111, shorts are in trapped by bulls now resistance breakout above 17450 - 30/03/2022
keshevdugar
@sudheer6429 I think what I have said is very clear...2 means breakout/down
champtrade111
@keshevdugar0210, yes i do agree with you.. cause there is always possibilities of breakout at resistance line which is not consider here .. !
keshevdugar
@champtrade111 It's ok please do mention the common possibilities next time..loved the presentation of your post!
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