Bearish Nifty (technical+ geopolitics) nifty doubble topLet's study Nifty, according to the geopolitics around the world right now. And also, according to the technical analysis , if you see according to the geopolitical situation right now in the world, the Iran us war is not going to end soon as of now, it may end at the end of the March or in the early April and it might even prolong, but I don't think it will prolong. For a further, more than April mid, because like there will be a recession in the whole world. And everyone, including Americans, would not want a war that would cause problems for everyone right now, so yeah, it would end around the March and She door April mid atleast and then after that, we could see that the Nifty might go up, but as of now, if you see that Nifty will be going down from here, so currently at the level of 23 580, it is and it might go up and touch. Its 10 day a that is around 23 950 levels, so it might touch it around 23900 to 23850 around this level. It while it might touch its 10 day EA and then make a dooji or make any normal 2 candles around each other in the same range, and then on the plate What day I can expect that it might fall from there? And then after 23850, it might fall down to 23581, and then TO 23300 levels, and then accordingly, and at the end of the March, it might reach its lower, that is 22950, and then after that, it might go up to 22690 levels, so why I'm saying about this 22690 levels is that it is almost a gap filling bottom of the previous gap so up a around this year. Double, I expect the Nifty to go, but if the Nifty falls below this also then keep it in mind that in monthly. If you see the Nifty is forming a double top formation, and once it breaks below 21963, which was the M formation. The double top neckline, then the immediate next support will be of its 50 day e-moving average. And if it break that also, then the next support, if you see it will be off its 100 day e-moving averages. That is around 18000 but then you can ask me that. How can Nifty fall below? Like 19000 level around 18500 or something. Then you have to understand one simple thing that with this escalation of war between Iran and us, it's not just a war between Iran and us, but in the side effect, China is also trying to increasing take action against the Taiwan . And now if you see that in this situation, if if US resources are fully occupied in Iran, then china will take advantage of this situation and try to capture Taiwan, which will be a massive blow for the world economy as Taiwan, is the major semiconductor supplier and to remind you that majority of the run up in the global market recently has been related to the semiconductor and AI, so if this is the, if the mean thing is being heard, then the world will definitely fall for a greater blow. And if you remember that China is the manufacturing hub of the world also, so in that situation, as there will be more and more sanctions, and everything placed on China, it will economic recession for the whole world, not just for China and since India. India is its immediate neighbour and India's imports a lot from China, India will also be affected by it.And since if that case manifests , then you cannot expect where the nifty will go undertoo after forming a double top.
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