Overview
Indecisive, is what can be said on Nifty movements at the present scenario. On Friday, Nifty closed at ~11895 at 0.2%. Following to our previous trends, below is the analytical chart on Nifty.
We can observe from the Daily chart that Nifty is now trading at a strong resistance level. As always, It is wise to wait and confirm the direction. On the downside ,if Nifty opens down or flat, , we could see this ending at the next support levels of ~11700. On the upside, if it breaks resistance and rises up, the next strong resistance is at ~12070. All technical indicators are still bearish.
From trading point of view, a Bearish sentiment is still favourable 🙂
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Disclaimer
This article is to introduce readers / traders/ students about the predicting aspects of trading and doesn’t guarantee any success. Trading is a very risky business and losses can exceed investments. Trade at your own risk
