Nifty continued its journey after it broke the trend line downward in its before week.
After which it was complete bearish on 1st day reached a new bottom of 10867.
Then it pulled back and retested the trendline from bottom two times but was unable to sustain.
I have drawn a red curve line connecting the highs of all five candles of daily timeframe.
To me it feels like Nifty is shifting the momentum as its today's high could not even touch the high of its previous candle.
Nifty is looking weak for me as it is struggling to breath at the top levels.
Time will tell whether market can sustain at this level or not.
Going into weekend with neutral mindset on Nifty but somewhere it hits me saying Nifty is weak as it did not break the trend line upwards even after a 5 days trading session.
So lets catchup back on Monday.
Keep safe and Play safe.
Happy trade :)
Note: Views only for educational purpose. Consult your financial advisor before any trade.
After which it was complete bearish on 1st day reached a new bottom of 10867.
Then it pulled back and retested the trendline from bottom two times but was unable to sustain.
I have drawn a red curve line connecting the highs of all five candles of daily timeframe.
To me it feels like Nifty is shifting the momentum as its today's high could not even touch the high of its previous candle.
Nifty is looking weak for me as it is struggling to breath at the top levels.
Time will tell whether market can sustain at this level or not.
Going into weekend with neutral mindset on Nifty but somewhere it hits me saying Nifty is weak as it did not break the trend line upwards even after a 5 days trading session.
So lets catchup back on Monday.
Keep safe and Play safe.
Happy trade :)
Note: Views only for educational purpose. Consult your financial advisor before any trade.
