Going long over the W-Pattern. The morning star candle gives the long signal. Bullish signal.
The price took exactly two times support from 20 sma still it hasn't gathered much power. There is two possibility a) Price will go down from 20 sma again by taking third time resistance. b) Price will take resistance from 50 sma then go down.
short term bearish view and the breakout will come either nifty go up or go down. nifty will go down if it go down below 14290 and goes bullish if a breakout happens 15400.