Is NIFTY showing signs of bearishness..?
As we can see NIFTY broke down of a head and shoulders pattern and showed a decent fall but we can see nifty retesting its neckline which could potentially act as a resistance and can show false upmove as it has already changed its characteristcs from uptrend to downtrend in bigger time frame and hence expected to make lower lows hence unless nifty sustains itself above 17500 levels and closes above it we can see NIFTY continuing its downtrend which is just the beginning
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