On a Weekly chart, Nifty has created bearish engulfing !!
Can we see more down trend ??
Strong support at 19630-50 levels previous multiple low trendline and multiple support at the same level.
In 30 mins chart there is positive divergence, above 19750 level Nifty will breakout of the Positive divergence.
Nifty has move 350 odd points in last week. While moving upwards Nifty has created multiple smaller range support levels at 19990-20050-20120 level.
It looks like Nifty will test 20110 level once before its upward journey to 20500 level.