NIFTY monthly chart analysis - 7000-6100 coming soon

k314 Updated   
NSE:NIFTY   Nifty 50 Index
The crash in Nifty can now take it towards 7000-6100
Sorry for the typo. Its 6300 and NOT 6100
Entire countries are shutting down en masse, and people are hesitant to call it a “recession?”

The only possible explanation is that it is the most violent recession we’ve ever seen, and people are too stunned to realize it.

- twitter.com/Wealth_Theory
This monthly chart anlsysis is in congruence with my weekly chart analysis with a parallel channel.

The pirchfork shared in the above analysis is a "modified Schiff" pitchfork. Hence the angle of median is slightly more bullish.

Here is another possibility with "Schiff" pitchfork which shows a bigger downside in the range of 4000-4600


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