NeeteshJain

Nifty Breaking Decending Triangle (8200 levels Next)

Short
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