Who Do We Fall?
So We Can Learn To Pick Ourselves Up!
-Thomas Wayne
Hey, In this post I am not going to predict the direction of the market. Cause it is tough to be 100% perfect in whatever it may be. It's better to talk about probability of the direction in which nifty is headed.
And is the Covid new strain the reason for the fall? Maybe, But I believe Nifty is intended to full despite the new strain.
So from the chart I believe that nifty has changed its trend from a more inclined channel to a less inclined channel. (Which means still in an uptrend, Though there may be a 6% fall)
Nifty has support at 15,900, where I believe the 200 Day MA will also coincide. Previously It acted as key support many times.
There is also a possibility of trend reversal, (Less probable) But for that nifty has to raise more than 2.5% in the next trading day i.e, Monday.
Happy Trading!
So We Can Learn To Pick Ourselves Up!
-Thomas Wayne
Hey, In this post I am not going to predict the direction of the market. Cause it is tough to be 100% perfect in whatever it may be. It's better to talk about probability of the direction in which nifty is headed.
And is the Covid new strain the reason for the fall? Maybe, But I believe Nifty is intended to full despite the new strain.
So from the chart I believe that nifty has changed its trend from a more inclined channel to a less inclined channel. (Which means still in an uptrend, Though there may be a 6% fall)
Nifty has support at 15,900, where I believe the 200 Day MA will also coincide. Previously It acted as key support many times.
There is also a possibility of trend reversal, (Less probable) But for that nifty has to raise more than 2.5% in the next trading day i.e, Monday.
Happy Trading!