The_Trader14

Nifty @ the trendline.

NSE:NIFTY   Nifty 50 Index
As shown in the fig the Nifty is clearly out of the rectangle and crossed the 11100 succesfully around 11am.

After that Nifty did not close any candle above 11100 as it shows weakness though it tested it multiple times.

Nifty might test 11000 and 10900 also in coming days if it breaks the trend line .

Trendline breaking is very important if Nifty wants to continue the downward journey.

Banknifty is also showing signs of weakness which will also help Nifty going further.

Play safe and Happy trade :)

Note: Views only for educational purpose. Consult your financial advisor before any trade.
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.