1. Nifty OHLC are below yesterday, after lots of consolidation - Bearish
2. The candle is green - Not Bearish, But with long upper wick, closing just below the yesterday's low - Bearish signs
3. MACD has crossed over Bearish.
4. With SL at 11770 and target 11305 - It seems like good Risk Reward Ratio
5. However, It clearly has taken support at 11618 level, which...
currently, #Nifty50 forming a Descending triangle. expected levels and targets mentioned on the chart.
This Analysis Is Done Only For Educational Purpose, Invest Or Trade At your Own Risk & Will. Do your own Technical analysis before taking any decision.
Nifty - Technical Analysis:
-NIFTY gapped up but instantly started falling from 11300
-It fell till 11100 and bounced back from it to move sideways for the rest of the day
- Nifty ended at 11,153.65 with a loss of 97 points or 0.86 percent.
Market - Driving Factors:
-Among the sectoral indices, BSE IT and Teck ended in the green, bucking the trend. On the flip...
Nifty - Technical Analysis:
-NIFTY fell after European markets opened in fears of another lockdown in the UK
-NIFTY was above 11500 but starting falling after FTSE opened and started falling sharply.
-It crossed below 200SMA and broke it with strength. We can expect a little bounce at 11200 before continuing the downtrend.
Market - Driving Factors:
-Market...
