NeeteshJain

Nifty Breaking Decending Triangle (8200 levels Next)

Short
NeeteshJain Pro+ Updated   
NSE:NIFTY   Nifty 50 Index
It is been observed that the price action forming a descending triangle on daily chart , and now it finally breaks out . from a strong support levels of 8550, indicating a strong weakness and bearishness ahead. Now it shall go further down and shall reach to 8200 levels.

Target: 8160
Stoploss: 8690
Risk Reward: 1:3
Trade active: Buying is weak, selling at high volume. Sellers shall be in dominance in tomorrow's price action too. Prepare your shorts. Regards
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.