Weakness in NIFTY chart Short

Nifty 50 IndexNSE

Description

⋅ Nov 26, 2021 10:54 AM

1. NIFTY gave a head and shoulder pattern breakdown from 17750 level and has broken the trendline 1 today.

2. Head & Shoulder target is same as our strong support 1 (16700 level). We can expect a bounce on this region.

3. If support one is breached then NIFTY can break down and come to Support 2 (15950 level) and test trendline 2

Learn & Earn,

Dr. Tanya Kumar

Chart Patterns

Comments

consistentHare77170

⋅ Nov 26, 2021 5:34 PM

Simplicity at its best 👍

tanya151181

⋅ Nov 26, 2021 6:15 PM

@consistentHare77170 thanks

rdash45

⋅ Nov 26, 2021 2:19 PM

thank you for sharing.

KetanM

⋅ Nov 27, 2021 9:55 AM

Great explanation and chart

aqibali089

⋅ Nov 27, 2021 9:16 AM

nice 😊👍

raman2508

⋅ Nov 27, 2021 8:19 AM

Might test 16700 at opening gas down and then bounce back.

tanya151181

⋅ Nov 27, 2021 9:05 AM

@raman2508 I hope so. Lowest I feel will be 16k

SenthilKumarGanesan

⋅ Nov 27, 2021 12:26 PM

shorted nifty future @17100

champtrade111

⋅ Nov 27, 2021 5:58 AM

Good explanation ..looking at chart 16700-16000 is next major support level of nifty but new corona virus fear spreads all over the world again i doubt this support will hold now ..what do u think about it ?