SEND NIFTY BACK TO 12000
So I will receive brickbats for this but what the hell, let's be pragmatic.
On a long term trend we are aiming to break the parallel channel which so far was intact in a hyper bullish narrative.
Note the bearish divergence!
Bull trap likely in place, will hit key resistance 1 at ~16100 and most likely we trace from there.
NOTE: this is a cyclic correction and the 5-10year trend is overall bullish for sure .
NIFTY
On a long term trend we are aiming to break the parallel channel which so far was intact in a hyper bullish narrative.
Note the bearish divergence!
Bull trap likely in place, will hit key resistance 1 at ~16100 and most likely we trace from there.
NOTE: this is a cyclic correction and the 5-10year trend is overall bullish for sure .
NIFTYTrade active
the indicators are telling bulls are tired #nifty 1) ADX
2) Directional Movement Index
s3.tradingview.com/snapshots/h/hyrCCsEF.png
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