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Multiple Time Frame Analysis

NIFTY looks weak below this level !!As we can see Nifty finally broke below the rising channel pattern and had been weak ever since. We can see Nifty getting continuous rejection at higher levels showing its weakness. Now the only important SUPPORT we can see is 21800 wherein any signs of rejection could be a good buy but if it fails to take support at given level then we may see another panic in the market leading to bigger correction so plan your trades accordingly. As of now our view is sideways to negative .
NSE:NIFTY
by Wealthcam
An important SUPPORT for NIFTY is coming up.As we can see NIFTY fell unidirectionally exactly as analysed in our previous post and we also mentioned about the supposed panic that could occur with the break of lower trendline and we did see that. now nifty can be seen heading towards very important support or demand zone of 21800 which given NIFTY more room to move hence if NIFTY weakens and reaches 21800 and shows any signs of rejection then strong reversal can be expect to plan your trades accordingly.
NSE:NIFTY
by Wealthcam
NIFTY got rejected exactly as analysedAs we had analysed in our previous analysis that every rise could be a selling opportunity in NIFTY as it has maintained itself in more like an rising wedge pattern which is a bearish pattern hence we may still expect NIFTY to correct taking support at the lower trendline! We can see NIFTY is trading at a SUPPORT hence if NIFTY opens strong then we may see a good recovery else we may see another sideways to negative market so plan your trades accordingly.
NSE:NIFTY
by Wealthcam