This week, Nifty has formed a distinctly bearish candle, indicating strong dominance by the sellers. This development suggests that the price action may be preparing for the formation of another lower low on the daily timeframe. The possible scenarios in line with this outlook have been discussed in this weekly analysis.
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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.