BEARISH SHARK and CYPHER pattern formations.
Fibo levels plotted with Support and Resistances ... Point D of Cypher is coinciding with SR and Fibo level indicating more prominence.
If price crosses 200.5 then upside move highly possible till point D..
Simple Nifty analysis of MONTHLY Time Frame
Need to see where it goes...
At current levels there is resistance but this month's low is a support also...
Shows a try of sustenance above the broken larger channel ....
Need to see if it will be able to sustain... Because RSI also showing divergence.
Has broken out of a downwards channel which is within another downwards channel. Broken with volume also..
Need to see if it can break out of the bigger channel and sustain the upwards movement for resistances marked in yellow.