Medium to Long Term Trend Outlook: Bearish
* NIFTY right now at Elliot's Correction Wave
* NIFTY may see a huge correction as per Elliot
wave
* Whenever the chart patterns looks difficult to
predict the upcoming trend Elliot wave will be
used
* Below 16300 NIFTY may turn into extreme
bearish mode
* Price crossed below 20 SMA but unable to
break above 20 SMA from below and may take
support @ 50 SMA around 16000 levels
* If price breaks 50 SMA then next target will be
13600-14000 levels by taking support @ 100
SMA
* 10 Year RSI 35 @ 59.62 (H-81.32 L-16) & RSI 14 @
53.53 (H-70.96 L-29.96)
* NIFTY may see a huge correction as per Elliot
wave
* Whenever the chart patterns looks difficult to
predict the upcoming trend Elliot wave will be
used
* Below 16300 NIFTY may turn into extreme
bearish mode
* Price crossed below 20 SMA but unable to
break above 20 SMA from below and may take
support @ 50 SMA around 16000 levels
* If price breaks 50 SMA then next target will be
13600-14000 levels by taking support @ 100
SMA
* 10 Year RSI 35 @ 59.62 (H-81.32 L-16) & RSI 14 @
53.53 (H-70.96 L-29.96)
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.