“BEARS ARE ON TOP OF THE BULLS”
Till now Bulls are thrashed by the Bears. It took 25 sessions to reach the new high of 10179 levels from the low of 9685 levels but took only 6 sessions to be back at the same levels.
As I said in my earlier post, Nifty could take support at 9700-9780 levels. If nifty breaks the last low of 9685 and closes below it then the medium term trend will change to downtrend.
Let’s see the Charts below –
Nifty Weekly Chart
A nifty weekly chart is showing some serious selling pressure and can take support at 9685-9650 levels.
Nifty Daily Chart
The daily chart of Nifty is also showing trendline support at 9700-9685 levels.
So as of now its a wait and watch scenario. Don’t jump into trades let markets show you the way..!!
Sid
Disclaimer
I’m not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don’t trade with the money you can’t afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.
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