MDstockmagic

NIFTY trend analysis

Short
NSE:NIFTY   Nifty 50 Index
charts gives the indication before the bigger trend starts...

nifty started its upward journey by making low 16163 with doji on 11th aug 2021
after that given number of confirmation to add longs... and went on to make high 16702

now again nifty made doji at top and doji low 16672 broken down with confirmation candle
given 1st hint of correction than back to back other two confirmation also given
now trendline broken .. expect minimum target of 16400

than important level 16340 .. if this level too decisively broken than only expect fall upto 16200-100

Gann pressure dates : 18th aug to 20th aug
and we have seen selling pressure on 18th aug... it may continue on 20th aug for above targets
Comment: MADE LOW 16376... MINIMUM TGT ACHIEVED
Comment: nifty re-tested the the breakout level... now more weakness only if breaks important support 16340

Comments