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PriceWorksIndeed

Nifty likely to comedown to its pre-covid level

Short
Nifty 50 Index (NSE:NIFTY)  
PriceWorksIndeed Updated   
NSE:NIFTY   Nifty 50 Index
Parallel Channel Support and Resistance Beyond Technical Analysis parallelchannels
5
2
parallelchannel supportandresistance beyondta parallelchannels

Targets : 14175/13619/13190/12468

SL: 16826 (closing)

Technical Reason : Breakdown from Long Parallel Channel.

Fundamental Reason : Russia-Ukraine prolonged war , Russia Economy stable by support of India as a customer, Rubble strengthening -- Dollar Weakness , US-China tussle over Taiwan likely to emerge , Energy price unlikely to come down as long as there are sanction over Russia , Food Inflation likely to persist due to heatwave .



Comment:
heading well , did breakdown from the support today.
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