As we have discussed in our last analysis nifty has been showing a huge bearishness.
The support zone where it supposed to take support is also broken now next support point is quite far as marked in the chart.
Nifty seems to be continuing the bearish trend.
Reasons
Verdict:
Bearish
Plan of action
Wait 15 min follow trend. Sell high upticks.
The support zone where it supposed to take support is also broken now next support point is quite far as marked in the chart.
Nifty seems to be continuing the bearish trend.
Reasons
- Resistance Zone to the upside (Bearish)
- Price will be facing 200 EMA as resistance upside. (Bearish)
- Price < EMAs (Bearish)
- Break to Downside of very strong support level now will be acting as resistance.
Verdict:
Bearish
Plan of action
Wait 15 min follow trend. Sell high upticks.
