Verdict:
Bearish
Plan of action:
Wait 15 min follow trend. Sell high upticks.
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:
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.
Disclaimer:
The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.
Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.
The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.
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