#Nifty50 In Trouble?

27 août 2023

Although the #Nifty50, an Indian index, is representing a nation of about 1,4B people, a great part of them probably has little concern for or knowledge about the state of it. Be that as it may, the state of it might still have a great influence on a majority of this nation's people. The bearish rising wedge on the chart indicates trouble brewing here, and this could be confirmed once it falls back into the wedge, and especially so when falling under the wedge. On top of that we also see that the index is also currently diverging with technical indicators, as shown with the MACD on the chart. This can also be viewed as negative, or bearish. As TheDawieSetup knows, this index might be part of a great majority of indices and shares staring down the barrel at this point in time.