India Bank Nifty - Consolidation zone & important levels to watch out for. At the moment, this index looks like in a consolidation zone and there is a probability of touching the previous bottom, please play accordingly based on your own analysis. Please provide your valuable comments, feedback and any improvements that I would follow to help this community.
Levels of nifty for both bull & bears, if the trendline is respected it should try to touch the green zones otherwise the pink zones.
Nifty is heading towards the upper green zone as expected
Mahindra & Mahindra looks like a short-term bearish and will form a long term view of bullish once it hits last arrow. This is my personal opinion and I am posting only for education purpose.
On a monthly timeframe , the trendline is bullish , we may see a consolidation for a while, hopefully it should not break the trendline when it does it should touch 14000 mark, since that is the level where it should touch 200EMA.