Hi, I have shared my analysis for Nifty, I have been bearish on nifty since 4th April. Now Nifty has been constantly falling down, it took a pullback and now again continuing the trend which is downside, Nifty is at the support, Nifty can make and break in this week.
Important Levels to take care of- I am bearish still, If Nifty breaks- 15820 level, and close around the level on weekly basis. then A long Downtrend can continue.
2. if nifty breaks upside resistance which is- 16524 (weekly candle closing basis) it will go up!!! till- 16950 level, then again can expect a bearish signal. 50% fibb rejection.
Important Levels to take care of- I am bearish still, If Nifty breaks- 15820 level, and close around the level on weekly basis. then A long Downtrend can continue.
2. if nifty breaks upside resistance which is- 16524 (weekly candle closing basis) it will go up!!! till- 16950 level, then again can expect a bearish signal. 50% fibb rejection.