“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..!!
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