It has well below its 20 dma which is at 18528.\
Major contributor of its decline is IT sector and Reliance is also not helping it.
Even nifty FMCG sector had declined to some extent.
Nifty IT is at horrible state trading below 50.20.200 dma.
if we consider the rally of nifty as 1,2,3,then this is 4 th wave pulll back.
But 3 wave rally defenitely can not be lebelled as impulsive.The present uptrend can be lebelled as corrective too.
In up coming days nifty most possibly likely to touch 38.6 percent retracement level.
it has already crossed 23.6 percent of retracement level.
I have made the chart simple no thing complicacy is there.
one can understand if little knowledge of charting.
don't forget to like my post.
follow me to get updates.
Major contributor of its decline is IT sector and Reliance is also not helping it.
Even nifty FMCG sector had declined to some extent.
Nifty IT is at horrible state trading below 50.20.200 dma.
if we consider the rally of nifty as 1,2,3,then this is 4 th wave pulll back.
But 3 wave rally defenitely can not be lebelled as impulsive.The present uptrend can be lebelled as corrective too.
In up coming days nifty most possibly likely to touch 38.6 percent retracement level.
it has already crossed 23.6 percent of retracement level.
I have made the chart simple no thing complicacy is there.
one can understand if little knowledge of charting.
don't forget to like my post.
follow me to get updates.
